Context:
after a major uptrend , price found balanced an ranged for quite some time , till price broke out to the downside,
however the momentum of the down move decreased and we somewhat found support @1.194,
from here on it depends if we continoue lower we first have to takeout that support level, a break of the highs
would encounter a retest of broken suport and if that retest is succesfull we may heaqd lower and have confrimed weakness
signs of strength:
Uptrend
signs of weakness:
broken support
after a major uptrend , price found balanced an ranged for quite some time , till price broke out to the downside,
however the momentum of the down move decreased and we somewhat found support @1.194,
from here on it depends if we continoue lower we first have to takeout that support level, a break of the highs
would encounter a retest of broken suport and if that retest is succesfull we may heaqd lower and have confrimed weakness
signs of strength:
Uptrend
signs of weakness:
broken support