from below, as well as the Yearly S2. Weekly
has held support this far after the break and price is now
inside the Kumo Cloud after testing above.
The confluence is strong resistance and since
a Buy is possible from here, with lower highs
and lower lows, chances are we will see the resistance
hold and price may continue down to complete the pattern.
Below previous low at 1,0460 and the completion of the
pattern at 1,03 exactly, stands the Monthly S1 at 1,0383.
A weekly close above the high and Yearly S2 mmaybe
lead to a test of the and previous high putting
the pattern into question. The pattern will be erased
once the C-level is taken out at 1,1036.
for perfect setups. Question is , if the Bull force is too strong at this point. The weekly close this week came in below the
confluence resistance. The CD leg is also starting to become extended in time. It may turn into a triangle consolidation
instead if price fails to break above resistance. Thanks for your remark.