is history going to repeat itself?
we notice in the daily chart when we get into the overbought area we double top and then down
after the green support is broken we go higher and get a small retest on the red support line
there are many similarities in both yellow and green boxes.
the question is are we going to break the support or not
if we break the support, the next support is the dotted line
otherwise we will test the white resistance line
the 1.40 usd must be kept for an uptrend
otherwise we see the next stop 1,20usd, and then I don't think it looks that good.
we now have the first leg of 5
then we have 1 of 3 and notice we're making an LH
the next step is then according to EW a leg of 5
these are my observations and my opinion
we notice in the daily chart when we get into the overbought area we double top and then down
after the green support is broken we go higher and get a small retest on the red support line
there are many similarities in both yellow and green boxes.
the question is are we going to break the support or not
if we break the support, the next support is the dotted line
otherwise we will test the white resistance line
the 1.40 usd must be kept for an uptrend
otherwise we see the next stop 1,20usd, and then I don't think it looks that good.
we now have the first leg of 5
then we have 1 of 3 and notice we're making an LH
the next step is then according to EW a leg of 5
these are my observations and my opinion