Hi Traders!
The market just broke the market structure.
Now it is in a (not confirmed) uptrend.
Before, the market was in a descending parallel channel.
Then it broke out, tested the Parallel Channel again and made a higher high.
After that the market got under the previous High (orange dotted line), but it failed to make a new lower low.
As you can see the market is now at the Trendline and a strong Support Area (purple triangle marked).
This is a great time to buy, because the Resistance is two times away from the risk!
We recommend to buy after a strong bullish Pattern.
Thanks and good luck :)!
The market just broke the market structure.
Now it is in a (not confirmed) uptrend.
Before, the market was in a descending parallel channel.
Then it broke out, tested the Parallel Channel again and made a higher high.
After that the market got under the previous High (orange dotted line), but it failed to make a new lower low.
As you can see the market is now at the Trendline and a strong Support Area (purple triangle marked).
This is a great time to buy, because the Resistance is two times away from the risk!
We recommend to buy after a strong bullish Pattern.
Thanks and good luck :)!