wedge formation ( i am not sure it is called wedge or something else in forex)
trend line intersection
light resistance area :- 1.17561 to 1.1760 ( will play a great impact to reduce momentum )
fibo my favorite level 78.6 residing inside this are intersection all the above at the point of wedege and reiding inside the resistance are 1.17673
M formation completion
open point (long) at 1.17561 ,
best long point 1.17673 ( if resistance dont play its magic)
i am going with above open point. :)
traget :- 1.18233
light resisnace area from 1.18223 to 1.8387
i guess it should pass but i will close some trade at 1.18223 ( there is week fibo level residing )
if it manage to go up 1.8387 it should go upto 1.1896 ( 38.2 % fibo is residing )
rest let me hope my analysis is great , let me know if my analysis is wrong (newbie here).
regards
trend line intersection
light resistance area :- 1.17561 to 1.1760 ( will play a great impact to reduce momentum )
fibo my favorite level 78.6 residing inside this are intersection all the above at the point of wedege and reiding inside the resistance are 1.17673
M formation completion
open point (long) at 1.17561 ,
best long point 1.17673 ( if resistance dont play its magic)
i am going with above open point. :)
traget :- 1.18233
light resisnace area from 1.18223 to 1.8387
i guess it should pass but i will close some trade at 1.18223 ( there is week fibo level residing )
if it manage to go up 1.8387 it should go upto 1.1896 ( 38.2 % fibo is residing )
rest let me hope my analysis is great , let me know if my analysis is wrong (newbie here).
regards