ON THE WEEKLY CHART, WE HAVE SEEN PRICE FAIL TO BREAK THE TRENDLINE AND IS CURRENTLY CREATING A DOJI.
THERE HAS BEEN BULLISH DIVERGENCE ON THE DAILY CHART, WHICH GIVES FUTURE CONFIRMATION OF THIS LEVEL.
ALSO, ON THE 4 HOURLY, WE CAN SEE A DOUBLE BOTTOM WHICH MEANS WE MAY BE ON THE WAY TO 1.20 (50% RETRACEMENT AND THE DOUBLE BOTTOM'S TARGET)
Price is nearing a previous long, which may form a double bottom.
- There is divergence on the 1w, 4h, 2h but may change before divergence on the 1d so caution.
-Entry on this will be when price comes back into the box range after creating the divergence
-Target is double the box range.
