In this case we want to be ready for both scenarios. Whether it`s going down or up, we can make profit with it!
Bullish scenario:
After the Breakout of the trendline, we wanna make sure that we don`t buy a Fakeout.
Wait for the retest of 5.3! After that we should see bears coming into the market following the downtrend. Right after we should see a retest of the previous high, which was @ 5,25!
A bounce off that area would show a new high and a higher low confirming the crossed MAC-D and RSI above 50!
This third wave has huge potential, our first target would be the top of the range @ 5.40 - 5.45! After that we can head to 5.5!
Indicators:
MAC-D should get above the 0-Line crossed upwards!
IF we see a Fakeout and bounce back into the trendchannel, we wait for the retest of the recent bottom @ 5.12917!
After that, we should see bulls coming into the market until we retest the trendchannel. THIS is our chance to sell the market until we`ve reached the important mark of 5.0!
Indicators:
MAC-D should cross downwards below the 0-Line to confirm that trade!
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