Daily Morning Star Formation and very strong upcoming wedge pattern and reversal of the price for the up side.
I will expect a retraction at this supportive zone and then a strong buy breaking the trendline.
Overall bullish trend.
Price is making a new small higher high and I do expect a formation of the lower low at the supportive zone of 1.21400 and then with a confirmation place a buy order.
However without a clear confirmation we can also have a breakout for the down side and even break the main supportive trendline.
All of this needs confirmation ⏳👍
We have a confluence of a supportive demand and a supportive trendline I do expect the price to grow with a clar confirmation around this area.
Is it also possible to see a divergence on my RSI indicator and this means that we may have soon a reverse for the up side.
Great oportunity here in this bearish continuation. We got a breakout of the trend line and suportive zone and now we can see a clear continuation for at least more 70 pips down.
An SL bellow my rectangle of resistance or trend is an useless entry just to lose 👍🙏