In my Chart i have illustrated some Action Points (mangenta) Here i exspect considerable moves.
Within the uptrend since 25.07 we have now reached a consolidation Phase in form of a shortterm downtrend (red counting) . Within this trend, a bearish wedge is be formed.
The wedge will reach in the best technical case up to the downtrends edge @ 1.1312. Here is an Action Point!
A break through that wedge could initiate a shortterm downwave to 1.1230 / 1.1215. Here a new green "3" could be formed = next Action Point!
Trading below that Level would attack the midterm uptrend. If this trend breakes, the tp could be the former low @ 1.115
Breaking the shortterm downtrend on the upside means aiming the resistance at 1.135-1.1365. Above that Level, the next bigger tp could be the uptrends upper edge at 1.145
Comments are Welcome - Agree or Disagree
Within the uptrend since 25.07 we have now reached a consolidation Phase in form of a shortterm downtrend (red counting) . Within this trend, a bearish wedge is be formed.
The wedge will reach in the best technical case up to the downtrends edge @ 1.1312. Here is an Action Point!
A break through that wedge could initiate a shortterm downwave to 1.1230 / 1.1215. Here a new green "3" could be formed = next Action Point!
Trading below that Level would attack the midterm uptrend. If this trend breakes, the tp could be the former low @ 1.115
Breaking the shortterm downtrend on the upside means aiming the resistance at 1.135-1.1365. Above that Level, the next bigger tp could be the uptrends upper edge at 1.145
Comments are Welcome - Agree or Disagree
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from action point to the next one
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