My idea is that price will revisit the bottom and reject from breaking support of trendline. If this happens we may then begin to see a double bottom begin to form and should take advantage of buying opportunities.
After retest and formation of double bottom:
Entry:1.62454
SL: 1.62090
TP1:1.64200
However, if price do not retest and takes out the high of 1.6420, I will enter long once continuation of bullish trend
is confirmed. But because indicators suggest that the pair is over brought on the daily TF, my idea that price will revisit support before continuing to rise is more favorable.
We will see.
After retest and formation of double bottom:
Entry:1.62454
SL: 1.62090
TP1:1.64200
However, if price do not retest and takes out the high of 1.6420, I will enter long once continuation of bullish trend
is confirmed. But because indicators suggest that the pair is over brought on the daily TF, my idea that price will revisit support before continuing to rise is more favorable.
We will see.