breaking down the above chart we can conclude the bellow :
1- the secular direction of this pair is downwards and contracting forming descending triangle
2- in upward movement the chart moving in one wave only unlike the downward movement we can see ABC shape.
3- currently , we are in the end stage of small descending triangle witch represents the wave B in ABC downward movement that mentioned earlier
4- based on the time required to form the full wave and taking on consideration the contraction secular trend i am expecting to reach the bottom as illustrated in bellow chart time measurement.
that's very long time ! but the good news that you now have the full idea about main direction of this pair and you have to be looking for sell opportunities all along the way down.
if you find that interesting like and you may comment me with any pair you need to have same analysis about !
good luck
1- the secular direction of this pair is downwards and contracting forming descending triangle
2- in upward movement the chart moving in one wave only unlike the downward movement we can see ABC shape.
3- currently , we are in the end stage of small descending triangle witch represents the wave B in ABC downward movement that mentioned earlier
4- based on the time required to form the full wave and taking on consideration the contraction secular trend i am expecting to reach the bottom as illustrated in bellow chart time measurement.
that's very long time ! but the good news that you now have the full idea about main direction of this pair and you have to be looking for sell opportunities all along the way down.
if you find that interesting like and you may comment me with any pair you need to have same analysis about !
good luck