The cup shaped pattern in this chart may suggest that a trend reversal is under way. A weekly time-frame may be better to find this type of pattern, but, this daily chart seems to show a clear reversal. The daily average volume begins to increase at the bottom right side of the cup and price slowly starts to reverse trend. We need to stay over the 50 day average or I think this idea can fizzle out.
I marked off some areas where I expect to see resistance. I'm setting my first alert at the 1.12 price point
Would love to know what you guys think. Trade carefully!
I marked off some areas where I expect to see resistance. I'm setting my first alert at the 1.12 price point
Would love to know what you guys think. Trade carefully!