$LGHL Wedge, Straight up, Straight down
Id really like to see price action break above 1.75 for a confirmation, but it does seem we have bottomed out here on the daily already at 1.13.
We are off the bottom a bit, but still have a real nice R:R. We could always come back down to backtest this last rescandle close resistance at 1.36.
Looking at historical price action on this asset, everytime we make support out of 1.75, we end up at 5.20, fast. Straight up, straight down.
Considering the context of this wedge forming, we could see a retest of that 8.93 candle close again, up near the 1.618.
We are off the bottom a bit, but still have a real nice R:R. We could always come back down to backtest this last rescandle close resistance at 1.36.
Looking at historical price action on this asset, everytime we make support out of 1.75, we end up at 5.20, fast. Straight up, straight down.
Considering the context of this wedge forming, we could see a retest of that 8.93 candle close again, up near the 1.618.