Our entry is now at break even as said last year we expected a bullish breakout this month we entered this market at this price here..
The chart pattern agrees with how we see price on this pair..
The pattern is a ascending triangle.
Continuation or reversal pattern
In a downtrend the odds of a reversal is higher than an ascending triangle within a uptrend in which in a uptrend it’s favor a bullish breakout - continuation.
The odd increases here or a reversal - bullish breakout when we seen increase in volume towards the upside this month so we added side weekly .
Moreover the odds increased more when the market broken the resistance line. Thus the probability of the sale we see currently is a retest. Looking at the daily and 4 hr we can see the sell off isn’t convincing to short rn. Next week will give more clues if the market will bust lower this is seen by how and or if price breaks break within the structure. Where we’ll be watching for weak bearish momentum and if present we’ll be added more buys and if bearish momentum increase we’ll close our position in profits as we trade the highs and low of moves and not in between we are able to exit markets with profits if price decisions to do otherwise.
The chart pattern agrees with how we see price on this pair..
The pattern is a ascending triangle.
Continuation or reversal pattern
In a downtrend the odds of a reversal is higher than an ascending triangle within a uptrend in which in a uptrend it’s favor a bullish breakout - continuation.
The odd increases here or a reversal - bullish breakout when we seen increase in volume towards the upside this month so we added side weekly .
Moreover the odds increased more when the market broken the resistance line. Thus the probability of the sale we see currently is a retest. Looking at the daily and 4 hr we can see the sell off isn’t convincing to short rn. Next week will give more clues if the market will bust lower this is seen by how and or if price breaks break within the structure. Where we’ll be watching for weak bearish momentum and if present we’ll be added more buys and if bearish momentum increase we’ll close our position in profits as we trade the highs and low of moves and not in between we are able to exit markets with profits if price decisions to do otherwise.
