Trust you caught a sell entry and benefited a few pips from my previous analysis. If you followed congratulations.
Let's now look at the current market structure.
Price bounced up beautifully from a confluence zone of the rising trendline, 38.2% Fibonacci level and interestingly, price has printed a wedge (bullish continuation pattern). I expect price to rise if the wedge gets violated to the top side. For best entry, we should wait for the wedge to be completely violated. I will consider going long on this market with short term targets of 12856 and 13000 as shown on the chart.
Let's now look at the current market structure.
Price bounced up beautifully from a confluence zone of the rising trendline, 38.2% Fibonacci level and interestingly, price has printed a wedge (bullish continuation pattern). I expect price to rise if the wedge gets violated to the top side. For best entry, we should wait for the wedge to be completely violated. I will consider going long on this market with short term targets of 12856 and 13000 as shown on the chart.
