I identified a potential area of double support where the price may trigger a reversal. This level is around 1.3080 around a confluence are between a horizontal support and the lower line of an ascending channel .
This Might be A silly question but, regarding trend lines, you prefer to draw to the body or the wick? Also How did you forecast this trend line with only 1 point so far? Thanks!
Traderscope
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@BrunoAlvesb2, Always the wick when it is possible. I forecast it simply using parallel channel pattern, Usually price evolve within a channel. I anticipate the reaction of the price like this. However it is always better when this trendline cross a horizontal support.
miket56
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@SuperSignalFX, bad luck missing that entry by the tiny margin. Considering an entry on the pullback. Nice pin bar just printed.