Price is currently consolidating above a key support zone, approaching a critical Decision Point. The market structure shows a prior CHoCH and BOS, signaling potential bullish intent, but momentum has slowed.
Two potential outcomes:
Bullish Case: A breakout above the descending trendline and Decision Point could trigger a move toward the Weak High and higher.
Bearish Case: Rejection from this zone may lead to a liquidity grab, with price targeting the Order Block (OB) near 0.79300, sitting above a strong low.
Watching for a confirmed reaction at the Decision Point to determine directional bias. Stay patient and wait for price action confirmation.
Two potential outcomes:
Bullish Case: A breakout above the descending trendline and Decision Point could trigger a move toward the Weak High and higher.
Bearish Case: Rejection from this zone may lead to a liquidity grab, with price targeting the Order Block (OB) near 0.79300, sitting above a strong low.
Watching for a confirmed reaction at the Decision Point to determine directional bias. Stay patient and wait for price action confirmation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.