This pair is in an uptrend creating higher highs and higher lows.
We have shown rejections at a key fib level, rejecting 50ma and also respecting our trend line drawn on. The more confluences the better!
On lower time frames we were in a downtrend creating lower lows and lower highs. A double bottom has been formed, we have broken our counter trendline and we have created a higher high- breaking the short term downtrend
I will consider a long position if we get a pullback/correction and create a higher low.
What do you guys think? Let me know in the comments.
We have shown rejections at a key fib level, rejecting 50ma and also respecting our trend line drawn on. The more confluences the better!
On lower time frames we were in a downtrend creating lower lows and lower highs. A double bottom has been formed, we have broken our counter trendline and we have created a higher high- breaking the short term downtrend
I will consider a long position if we get a pullback/correction and create a higher low.
What do you guys think? Let me know in the comments.