Hello everyone!
On 1-hour chart, we can see that the price reached a solid support zone, and then we can see that double bottom formed.
Double bottom is reversal pattern ad we can see that sellers got rejected on that area and that the buyers are coming int the game.
We should consider that the overall trend is falling and if you want to take a long position, you can target the next resistance area to set take profit order.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
On 1-hour chart, we can see that the price reached a solid support zone, and then we can see that double bottom formed.
Double bottom is reversal pattern ad we can see that sellers got rejected on that area and that the buyers are coming int the game.
We should consider that the overall trend is falling and if you want to take a long position, you can target the next resistance area to set take profit order.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.