Price has recently been trending in downside momentum, now over the last week has been in consolidation (a descending channel with abcde correction), which it broke to the upside. Now a possible retracement (retest of the broken structure) might come and then we get a possible big move to the upside.
Scenario: Long; @(50% - 61.8%) retest of broken structure.
...
Pair is showing change in direction with the reversal structure its making.
Bigger picture structure ascending wedge with abcde correction, price at (e) preparing to start trending.
smaller m15-m30 stucture @ (e) correction is a triple top, price recenty broke neckline of triple top in m30 and is currently coming for retest, more downside movement on the way
This pair has made 4h & 1H reversal pattern. A bigger picture ascending channel with abcde correction & a smaller reversal pattern, (within the bigger pattern )1H Ascending broadening wedge/ or you could say its also a ascending channel.
Price recently rallied down and broke the smaller 1H stucture (ascending channel/ ascending broadening wedge), price made a...
