Key points to analyse here Price has broken the trendline and horizontal support zone We have not seen an bullish candle and price is merely giving any major indication of reversal yet We will look for short opportunities around 1.30500
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Key points to note Price move in waves Was this a retracement wave and price will continue to rise after retracement is over Keep an eye for bullish signal Read our post on candlesticks to learn more about price action
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This could be an easy short term setup with good risk to reward ratio Just look at the rejection at the key indicated area and try to find bullish signal to go long
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Should we see a pull back to the up trend line and support zone before it shoots up Or it will continue to go up
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Do we see the same pattern again? key points to see Is price making higher high and daily candle closes at with a pin bar formation When price starts to fall , it should break the bearish order block A retest at the block gives us solid confirmation to go short
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Lets see where it goes You may check our recent Trade results here
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Our previous trade was a successful We will now look more entries when the right time will come
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