Price has came back to the same level as previous chart that i have attached.
Last week, price came to this level and bounced up with more than 120 pips.
Followed by another 120 pips drop too.
So there is an possiblitiy that price will bounce up again BUT there is also possiblity that it is an TRAP move to inicite buyers to jump in only to get stopped out.
I will wait for the price to BREAK the support for the confirmation of a trap move.
But then again, you will have seen exactly same thing for GBPUSD also.
There are simiarlity to those pairs.
Last week, price came to this level and bounced up with more than 120 pips.
Followed by another 120 pips drop too.
So there is an possiblitiy that price will bounce up again BUT there is also possiblity that it is an TRAP move to inicite buyers to jump in only to get stopped out.
I will wait for the price to BREAK the support for the confirmation of a trap move.
But then again, you will have seen exactly same thing for GBPUSD also.
There are simiarlity to those pairs.
