Price has been forming a pennant structure and it's close to the point of breakout near weekly S3.
If there's a break of the trend resistance line, take the long opportunity towards the median pivot.
Be aware of the monthly S1 resistance if it moves up(!)
Our next journey showing a lot of information, including: possible breakout points, down and up; support and resistance points; trendlines, fork range and its exits, explained important points in detail; etc.
As you can see, there are 4 important points that might be the crucial checkpoints tomorrow.
Predicting that Nr. 1 is a 99% probability (the only way we can pass that range is if it gap opens
up or down by +-40 cents). Nr. 2 has 45% probability from Nr.1, Nr 3 has 55% probability from Nr. 1.
Nr. 3 has 75% ...
Price has reach a level where more than one factors showing we should watch for short setup. Climbing a little more and it will soon test the median line of a up slope fork, the slide parallel of a long term median line. the 0.786 fib level of the previous impulse and a previous structure level (look left). If a ...
1) Bull Triangle forming on major price level 1.312
2) Pitchfork suggest more up movement expected (reversal to median)
3) Wait for reversal around 1.3 price level for a good entry to long (see coming week how this develops)
The sign are go for a bullish move somewhere next week or the week after. It looks to ...
Likely move to strong former SR zone, as well as a move back towards the median line which it has been following for more than 3 years.
Enter this short for a good 1:3.8 RR, be aware of the minor SR at 0.72
Good trading this week and leave a comment if you have anything to add