Given that the price is currently below the 200-period EMA, it is highly probable that it will attempt to retest this level. The observed structure suggests a potential reversal. Specifically, a change in structure has occurred, followed by a retest of the lower zone, a liquidity grab, and a subsequent upward movement. Currently, the price is approaching a significant resistance zone. A retracement is anticipated before a potential breakout
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.