Upon analyzing weekly and monthly timeframes we have confirmed we are currently in a long term bullish market with intraday bearish corrections. Although we are in a long term bullish market we have experienced a short term bearish structure on daily timeframes. This can cause confusion in determining directional bias, it is important to focus on the bigger picture.
Major support/resistance is marked at 107.000 and 108.000
If price is supported by 107.000 zone we may see a bullish run to make higher highs.
Within intraday timeframes such as 1H/4H there are multiple confluence zones and technical patterns such as Waves, Corrective patterns and Candlestick patterns.
Depending on your trading style i am sure you will be able to observe one of these technical analysis patterns; head & shoulders, wave patterns.
Major support/resistance is marked at 107.000 and 108.000
If price is supported by 107.000 zone we may see a bullish run to make higher highs.
Within intraday timeframes such as 1H/4H there are multiple confluence zones and technical patterns such as Waves, Corrective patterns and Candlestick patterns.
Depending on your trading style i am sure you will be able to observe one of these technical analysis patterns; head & shoulders, wave patterns.
Trade closed: target reached:
Price has reached our target and closed out.