Technical analysis on Evolving system. It is looking very good with break out of the previous resistance and retesting it again as the confirmation of support. This is known as the phase 2 of break out strategy (which is a good entry for long position). And if we combine with the fibonacci retracement levels, the key levels such as 78.6 and 38.2 has the alignment with previous swing high or low, the golden pocket region itself acts as a shadow resistance where the previous break out wave topped at this levels with precision.
The target will be around 1.4 and 1.65 with the SL at $1 which will produce the 3.64 Risk to Reward ratio.
The target will be around 1.4 and 1.65 with the SL at $1 which will produce the 3.64 Risk to Reward ratio.