Reversal after a long collapse
Updated
the pair has passed all the long term lower trendlines .
Now correcting itself, testing the most bottom lower T (magenta). it is reaching the middle dash line in descending channel . two possible scenarios:
1. bearish: testing magenta line at 1.1900, then down to 1.1560.
2. bullish: passess the magenta line, for yellow upper TL around 1.2160
Question: what tips the scale over to either one of these scenarios
Now correcting itself, testing the most bottom lower T (magenta). it is reaching the middle dash line in descending channel . two possible scenarios:
1. bearish: testing magenta line at 1.1900, then down to 1.1560.
2. bullish: passess the magenta line, for yellow upper TL around 1.2160
Question: what tips the scale over to either one of these scenarios
Trade closed: target reached
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