My idea here was to expect the price to move higher further until the bottom of the daily range holds.
The price action followed my analysis exactly as I expected it to here. The price which was at the bottom of the range, respected it and bounced higher from this zone, delivering 200+ pips move so far!
We love not only Crypto.
There is a great formation on USD/ILS currency pairs.
There is a HUGE bearish trend on a bigger frame.
Now the price is in a correction and there is an Ascending Channel.
Second confirmation, there is a strong resistance level. Price is close to this zone now.
Follow the chart and look for the bounce and next breakout...
USDILS we are bearish on the daily timeframe market has broke the uptrend with a strong impulse to the downside which has been followed by a correction to the 0.50 fib, now im expecting continuation to dowside and market to form a new lower low on the daily. We will be waiting on 4hr timeframe for market to break this counter trendline and form new bearish...
This is my view on this cross for the next few days.
Waiting for a strong breakout of the structure and the retest of the structure itself to go long
SL few pips below the lowest low and TP on Risk to Reward 1:3
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if...
☑️USD_ILS is trading in a textbook like bearish wedge
And while a move Up inside the wedge is still possible
I am expecting a bearish breakout and consequent move down
Until the pair finds support
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