I believe we are in a falling wedge pattern which could potentially take us to 6.42 and coincides with the fib retracement( GOLDEN POCKET) between 0.618 and 0.65, the 200MA marks the end of the wedge and could be considered as strong support for this move upwards. Also there is strong hidden bullish divergence on MACD & RSI ...
- Ofcourse we must not disregard a few negatives which are that we have just had a death cross with the 50MA crossing the 100MA downwards.
I would love to hear your thoughts about this analysis, as i am always trying to learn and gain experince using different techniques!!
I am not trading this Trade nor do i advise on using it, this is purely educational purpose only.
Thank you.
- Ofcourse we must not disregard a few negatives which are that we have just had a death cross with the 50MA crossing the 100MA downwards.
I would love to hear your thoughts about this analysis, as i am always trying to learn and gain experince using different techniques!!
I am not trading this Trade nor do i advise on using it, this is purely educational purpose only.
Thank you.