Price was in an overall downtrend and begins to reverse in an upward direction, and if it just so happens to break and close above the first supply area (where the horizantal purple line has been drawn) and retests it, this confirms the overall market trend may have reversed, until the next supply area.
Which in this case I consider my red horizantal line at 0.91821, which represent my monthly closing prices. If the break of structure continues beyond that point I may consider buying the pair. Until then I may wait out a sell continuation to about 0.90500 or maybe 0.90000 key level
Which in this case I consider my red horizantal line at 0.91821, which represent my monthly closing prices. If the break of structure continues beyond that point I may consider buying the pair. Until then I may wait out a sell continuation to about 0.90500 or maybe 0.90000 key level