Price has broken above a long term resistance level and has pulled back testing it and already being rejected. Any buy setup completion at the parallel will be a high probability one.
Comment:
It took price a couple of days (two bars) to reach our target. These who got involved in a buy setup from our support level most likely booked a trade with over 120 pips profit. Although it now seems we have a rejcetion at current level I believe price will break above the parallel and head to our next resistance level
Comment:
Price retests the sliding parallel where it seems we have a rejection. In addition a double bottom has formed at the level. Most likely price will move higher in the next days
