On Friday I had this analysis plotted out, however I missed the entry. We have now had pullback to my original area of interest so will be looking to enter this if the markets respect.
Analysis:
- We saw a break of the descending trendline, with price creating new lower highs.
- Several rejections of the ascending trendline
- My entry area of interest lines up with the rejection of the TL, 50MA and the most recent support zone.
If price fails to break the trendline and support area, I will be entering a long trade for this pair.
Analysis:
- We saw a break of the descending trendline, with price creating new lower highs.
- Several rejections of the ascending trendline
- My entry area of interest lines up with the rejection of the TL, 50MA and the most recent support zone.
If price fails to break the trendline and support area, I will be entering a long trade for this pair.