Price has broken a support level and created a downward wedge pattern.
This by default is a bullish reversal pattern.
However price is still below the 8 and 50 period moving average. Along with a Long wick rejecting sellers at the old support now resistance zone.
I will be taking this trade short for a good amount of pips.
This by default is a bullish reversal pattern.
However price is still below the 8 and 50 period moving average. Along with a Long wick rejecting sellers at the old support now resistance zone.
I will be taking this trade short for a good amount of pips.