Price broke from 1.17 levels, then bottomed at 1.05. After price retested 1.17, it went back down to find support again at 1.05. Double bottom formed, and you can see price has been propped up to go higher since the second test. Looking to go back to 1.17 for another test to either confirm the range, or to break out and go higher to confirm a double bottom. On the higher time frame, this looks like a correction, so would be more inclined to go short at 1.17 levels. Price may fall lower than what I have in the chart, but PA is telling me that price is looking to go higher. Looking for opportunities to go long, albeit we are in the middle of the range.
Commentaire:
First target achieved. Looking to see if price will push one leg further to the top.