Structure: Ascending Channel| Breakout
Observation: i. The USD trending since January 2019.
ii. Channels formed from two positive ascending at the resistance and support levels indicating a .
iii . Price not respecting the channel anymore can be noticed as price action breaks out (red circle) of the channel @ 9.60000 inciting a takeover.
iv. Price action appears to be doing a correction move from the last impulse leg.
v. Price action slicing below Moving Averages.
Trading plan: SELL with a minimum potential profit of 4,900pips.
Potential Duration: 15 to 25 days
** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.
Watch this space or Telegram channel for updates as price action is been monitored.
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