1. (Price rejects channel )
2. Price rejects 0.66500 area
3. candle (engulfs 25th March candle)
4. 28th of March Candle low below 50 , open/close above 50
5. Price forming higher lows & higher highs (evident by blue circles)
Risk / Reward: 1:1:09
Stop area: 0.66580 or below 0.66500 (below 28th march low)
Target: 0.68500 +
Note: Since this market overall is ranging, but in the short term, we expect to see evidence around
the 0.68500 or 0.69000 area or at the ascending channels resistance line.Why? Price has in the past, formed double tops at this price zone & reversed.
Agree/Disagree? Comment Below!