We have identified structure with the three resistance and supports, for me this is a recent downtrend.
We then have a falling wedge structure formed (And being that it is at the bottom of a down trend this calls for reversal).
Price has broke out to the top side of the wedge however this is not enough for me to enter, I want to see price clearly break this next resistance + 200MA.
I also want a good indication from ADX, 20 and above. (Indicating strong trend)
100+ pip trade!
We then have a falling wedge structure formed (And being that it is at the bottom of a down trend this calls for reversal).
Price has broke out to the top side of the wedge however this is not enough for me to enter, I want to see price clearly break this next resistance + 200MA.
I also want a good indication from ADX, 20 and above. (Indicating strong trend)
100+ pip trade!