This is all technical based. I have ichimoku
that indicates a bullish
sentiment backed up by AB=CD
with its parameters of 1.27,0.786 respectively and the crossing of 150 and 365 emas. You can also see the price is approaching the parabolic sar
, this could mean its the end of bearish trend
Now if the market breaks the R1 level, the price will be bound to settle down at R2. R2 could be our potential take profit.
Good luck and happy trading :)