Here the idea:
1) We will wait for price to reject the Blue Trendline below. Wait for price action there before you enter your position.
2) or, if price break the diagonal (magenta) trendline, most likely it will no go down to the blue trendline, so you can look out for entry after it breaks the magenta trendline.
The reason why we are looking for buy is because there is a major resistance 400pips above. So price is looking for the resistance, I am guessing that price is going to reject that resistance because market has move upward for a long time since 2016, so they are chances that price reject the resistance and go down or price reject and go down a little bit then continue moving upward looking for next resistance.
Make sure you u never instant entry your position, dont make it a habit.
Dont forget to like or share my post! If it goes as plan of course :D
Regards
EjazMian
1) We will wait for price to reject the Blue Trendline below. Wait for price action there before you enter your position.
2) or, if price break the diagonal (magenta) trendline, most likely it will no go down to the blue trendline, so you can look out for entry after it breaks the magenta trendline.
The reason why we are looking for buy is because there is a major resistance 400pips above. So price is looking for the resistance, I am guessing that price is going to reject that resistance because market has move upward for a long time since 2016, so they are chances that price reject the resistance and go down or price reject and go down a little bit then continue moving upward looking for next resistance.
Make sure you u never instant entry your position, dont make it a habit.
Dont forget to like or share my post! If it goes as plan of course :D
Regards
EjazMian