This pair is currently in a major uptrend towards daily 'D extension after bouncing off a monthly support trendline. We came VERY close in full-filling the 'D extension but price started moving back down towards bottom blue level perhaps due to the fundamental data not being on our side at this stage. We broke this level forming a gartley (sub ABCD swing). This is very powerful and can expect that once this completes we will continue towards the upside as one can also argue that the sub swing is also on a future support / demand zone. I am looking to take advantage of this downwards movement if price can just pullback to lower timeframe resistance / supply area (on alert level .
Lets see how this play out, looking for decent risk reward ratios,
Happy trading!
Lets see how this play out, looking for decent risk reward ratios,
Happy trading!