Time for a deep Pullback ?

١٠ يوليو ٢٠٢٢

This pair is obviously in a downtrend but price has currently come in contact with a monthly RESISTANCE and support TRENDLINE (validated by 3rd touch) resulting in a possible double bottom with a clear DIVERGENCE. With all these CONFLUENCES coming together, I'll be looking to take a long position on the 3hr timeframe once the LTF trend begins to shift in line with my bias with TP at the upper trendline and SL just below the structure level.
NOTE- This may or may not be a complete trend reversal.