The price travels within the symmetrical triangle towards the apex at which a longer-term decision will be given. The latest downward move is headed towards Fib .618 level, which also a confluence zone. Now it seems it is best to watch how the price structure will be formed and what the market will do at that zone. Stoch-based short-term trades seem possible in lower time frames, though risky. We are yet to know if there will be more sideways action since we may be already so close to the decision point. ML breakout might trap the bulls. SL breakout confirmation is normally needed unless there's strong evidence for the continuity of the bearish motive.
Comment:
SL touch! Time to go long with a tight stop and not very glorious expectations.
Trade closed: target reached:
This was a quickie contrarian trade, in which we just had a happy ending.
