The chart on the right is showing the whole setup of this move with a retracement trendline that has now given way to the upside.
- On the chart on the left, the lower time frame, we can see that price has broken this trendline, come back to retest it with a 61.8 retracement of the initial breakout thrust with long wicks indicating buyers were protecting the 0.84 key level.
- The second trendline has now given way and this may be an excellent opportunity to get long.
- On the chart on the left, the lower time frame, we can see that price has broken this trendline, come back to retest it with a 61.8 retracement of the initial breakout thrust with long wicks indicating buyers were protecting the 0.84 key level.
- The second trendline has now given way and this may be an excellent opportunity to get long.