From the previous idea, price has successfully went according to plan heading upside. Since then, price has pullback and re-tested the trendline (dark blue) of a 3-month uptrend channel. We can also see that that's the -38.2% of the previous impulse move. We can also see bearish divergence on RSI 14. From here, I am predicting price to head down to the first support area (yellow rectangle).
On previous analysis, price still has a long way to go heading down to previous swing low @ 1.5845, a long-term trade.
On previous analysis, price still has a long way to go heading down to previous swing low @ 1.5845, a long-term trade.
Ordre annulé:
Set-up no longer valid and no trade was taken.
