This is just my idea and what I see in the chart, as always I am only as confident as the volatile market will allow me to be.
Apart from a consolidation day the trend has respected the required lower lows and lower highs of a trend for a week, it is following the channel very nicely on 4 hour and daily time frames. I don't have any reason to believe that it will fall through the long term support and I feel it will become bullish once it has tested it.
Meanwhile it has retraced and should be geared for a 150ish pip drop over the next few days before the switch.
Disclaimer: I am a noob and only recently began wrapping my head around this. Please don't make decisions based on what you see here, Use your own analysis and take mine with just a grain of salt. Feedback appreciated.
Thank you.
Apart from a consolidation day the trend has respected the required lower lows and lower highs of a trend for a week, it is following the channel very nicely on 4 hour and daily time frames. I don't have any reason to believe that it will fall through the long term support and I feel it will become bullish once it has tested it.
Meanwhile it has retraced and should be geared for a 150ish pip drop over the next few days before the switch.
Disclaimer: I am a noob and only recently began wrapping my head around this. Please don't make decisions based on what you see here, Use your own analysis and take mine with just a grain of salt. Feedback appreciated.
Thank you.