1W Chart shows that price is moving in consolidation in this triangle pattern and that the exchange rate is above the 200 EMA, therefore suggesting the current direction of price is still upwards:
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would assume based on the bullish harami candlestick pattern and price steadily moving back into this upward channel, that the exchange rate has yet to increase further.
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would assume based on the bullish harami candlestick pattern and price steadily moving back into this upward channel, that the exchange rate has yet to increase further.
Comment:
Price is moving more volatile to the downside, will keep a look out for the upward direction then trade accordingly.
Comment:
(Journal) Further reflecting, I've realised that it's important to analyse what may happen but also to be firm in the decision making process, while price was moving in the green consolidation area, price moved more volatile downwards, the 2 large bearish candles established that. With that being said, seeing any bulls is unlikely. It seems price stopped there and reversed to go lower.