Daily MA crossover on the daily trendline breakout candle will signal a confirmation of a bullrun to 0.7050 (Daily resistance zone). You see how price broke above the monthly key level of 0.6850, then came back down to find support at 0.6700 level and had a huge bullish hammer formed after breaking below the daily support? This PA gives multiple sings of what the upcoming weeks will bring.
- Breaking below and a retest of Monthly Key Level 0.6850
- Bullish hammer formed after breaking daily support
- Tweezer bottom reversal on daily support formed after a retest of monthly key level
- HH and HL levels
- Breakout candle and most likely an MA crossover at trendline
Look out for a potential long entry on a smaller timeframe (2H-4H). I believe the price will come down to test support at 0.68085 and continue towards the target zone from there onwards if support holds. If the target is met and price continues to move higher, it would most likely be the completion of Fibonacci ABCD as well.
- Breaking below and a retest of Monthly Key Level 0.6850
- Bullish hammer formed after breaking daily support
- Tweezer bottom reversal on daily support formed after a retest of monthly key level
- HH and HL levels
- Breakout candle and most likely an MA crossover at trendline
Look out for a potential long entry on a smaller timeframe (2H-4H). I believe the price will come down to test support at 0.68085 and continue towards the target zone from there onwards if support holds. If the target is met and price continues to move higher, it would most likely be the completion of Fibonacci ABCD as well.
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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.