What's up Traders!
Without further due, lets take a look at this pair. As you can see the major trend line is bullish but still at support area. It is good to know that the support area is the fresh area of supply and demand zone (Drop Base Rally). For the chart pattern, it might be performing Double Bottom as reversal pattern but we need to wait for 2 days candle close for bullish confirmation. If the 2 days candlestick formed bullish reversal pattern (eg. Morning Star), then we can go long until 1st TP and 2nd TP. However, we can chip in long in SND ZONE with tight stop loss.
DISCLAIMER: This analysis is based on my perspective. Follow at your own risk.
Without further due, lets take a look at this pair. As you can see the major trend line is bullish but still at support area. It is good to know that the support area is the fresh area of supply and demand zone (Drop Base Rally). For the chart pattern, it might be performing Double Bottom as reversal pattern but we need to wait for 2 days candle close for bullish confirmation. If the 2 days candlestick formed bullish reversal pattern (eg. Morning Star), then we can go long until 1st TP and 2nd TP. However, we can chip in long in SND ZONE with tight stop loss.
DISCLAIMER: This analysis is based on my perspective. Follow at your own risk.
Trade closed: target reached:
Pounds hit our 1st TP unfortunately bearish is strong and cannot reached our 2nd TP. It is already break the SND zone and retest the chartline. My prediction, it will go bearish and you can find a short entry.
