If the price bounces from the and breaks the local downtrend line, which acts as a signal line, we will be able to open long positions. The estimated entry zone should be between 1.81550 - 1.81800 levels. Don't forget that the price will have to break the downtrend line first and only after that it will be possible to buy. Stop-loss orders must be placed below the support and the local swing low - it is 1.80800 level. Profit targets should be placed at 1.83000 resistance and the main downtrend line.
For a case, if the price breaks the , it will be possible to open short trades. The estimated entry should be below 1.80800 with stop-loss orders above the local swing high and 1.81000 . Profit targets should be placed at 1.79000 and 1.77000 support levels.
If we look at the indicators, we will see that the market is going to move upward. is not far from the oversold zone, and it confirms the price reversal. histogram supports the upward movement. DMI does not show that sellers are active, and they can break the .
In spite of all these signals, the market can move in another way. Don't forget to trade properly!
Thank you very much for sharing your idea! Well done!