The correction phase of the parity is about to be completed. As long as we stay above the 200-period moving average, the price will try to reach previous highs. 72.40 and 72.80 resistances will be in our radar in the case of breaking towards to upside.
Quick question: Why is the lower trendline drawn on the wicks en the upper one, thet start of the trendline, drawn on the body?
LimitMarkets
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@asiandude1234, When drawing any line, it is important to note how much the next price movement corresponds to the pattern drawn. Therefore, spike ignore was drawn when drawing the top line, and taken into account when drawing the bottom line.
In addition, the last spike movement was a movement belonging to the previous impulsive movement. But we tried to determine the subsequent correction phase in our drawing.