Hello, im closely following this pair because it seems its ready to make a big reversal/correction.
Looking at M1 chart we see a perfect bat pattern already completed:
On W1 chart we have and AB=CD pattern + bullish divergence, showing that the bearish trend is finishing.
Here on D1 chart there is a nice triangle/wedge that appears to be completed.
We could have one more leg down also (scenario 2) in that case i will long again from those levels.
Right now the price is bouncing from the 0.700 level and forming a potential head and shoulders pattern.
Best regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.
Looking at M1 chart we see a perfect bat pattern already completed:
On W1 chart we have and AB=CD pattern + bullish divergence, showing that the bearish trend is finishing.
Here on D1 chart there is a nice triangle/wedge that appears to be completed.
We could have one more leg down also (scenario 2) in that case i will long again from those levels.
Right now the price is bouncing from the 0.700 level and forming a potential head and shoulders pattern.
Best regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.