Trend:
The price is nearing the support at 1.5198, so this is a good place for reversal.
There is a bullish cypher pattern Feb 4th which completes today.
I put 2 limit orders just above the support I mentioned, instead of sticking to the 0.786 XC retracement, because of the support line and also to improve the Risk/Reward ratio.
What do think? Cheers!
- Long term (W): Ranging
- Long-mid-term term (D): Ranging or uptrend (It looks like the downtrend is over.
- mid-term (4H): Downtrend
The price is nearing the support at 1.5198, so this is a good place for reversal.
There is a bullish cypher pattern Feb 4th which completes today.
I put 2 limit orders just above the support I mentioned, instead of sticking to the 0.786 XC retracement, because of the support line and also to improve the Risk/Reward ratio.
What do think? Cheers!