Testing strategy 1 as bullish points are more than bearish, so biased as Long and executing plan A.
Backup plan, is price breaks the support at 83 then Plan B can be executed for going Short
Bullish Indications:
1- Buyers presure to bring up the price
2- Strong Support zone from 83-82 which is not broken since Apr 2021
3-upper trend line (based on line chart on 4H) is showing the the retracement will continue to upwards
4- AB=CD pattern shows that reversal is expected
Bearish Indications:
1- Bearish Trend on 1H, 4H & 1D since sept 2022
2- Next Coming Resistance at 86 & 88
3- is support is broken at 83 then we can have a long bearish ride
Plan A:
Long
Entry: 85.25
SL: 82
TP1: RRR1
TP2: RRR2
TP3: RRR3
Plan B:
Short
entry : below 83 (current Support)
SL: 86
TP1: RRR1
TP2: RRR2
TP3: RRR3
Backup plan, is price breaks the support at 83 then Plan B can be executed for going Short
Bullish Indications:
1- Buyers presure to bring up the price
2- Strong Support zone from 83-82 which is not broken since Apr 2021
3-upper trend line (based on line chart on 4H) is showing the the retracement will continue to upwards
4- AB=CD pattern shows that reversal is expected
Bearish Indications:
1- Bearish Trend on 1H, 4H & 1D since sept 2022
2- Next Coming Resistance at 86 & 88
3- is support is broken at 83 then we can have a long bearish ride
Plan A:
Long
Entry: 85.25
SL: 82
TP1: RRR1
TP2: RRR2
TP3: RRR3
Plan B:
Short
entry : below 83 (current Support)
SL: 86
TP1: RRR1
TP2: RRR2
TP3: RRR3