As we can clearly see it broke the previous support and formed a lower low...also seeing that the market currently has an upward momentum in higher timeframes.
According to the situation these 3 are the high probability setups for me for this pair.
1) for buy- I will see the pennant broke and retest to the zone instead trading with 2nd touch.
2) for sell- i will see if it rejects the golden zone of fib and breaks the currently supporting trendline.
3) For sell- i will see if it broke the support zone and retests it
According to the situation these 3 are the high probability setups for me for this pair.
1) for buy- I will see the pennant broke and retest to the zone instead trading with 2nd touch.
2) for sell- i will see if it rejects the golden zone of fib and breaks the currently supporting trendline.
3) For sell- i will see if it broke the support zone and retests it
評論:
there is also a probability that it may not respect the trendline and can be ranging between the zones. if that happens wait for the breakout and retest of the zone (anyone of it)