Case for Bulls: - Overall Bullish Trend with HH and HL - No sign of Bearish Divergence - Possible Bullish Flag (Not shown in diagram because of AB=CD pattern - Bullish AB=CD Pattern with PRZ in a previous resistance zone
Case for Bear: - Seasonality - May is a Bearish month as far is seasonality is concerned - Current Trend does not support any bearish stance unless reversal happends
Stance : Bullish Trading Plan : Place Buy Stop on A at 0.62522 With Stop Loss at 0.62155. Risk Reward ratio to be managed at 1:1