If we take a look at the Daily timeframe chart, we can observe that the price has formed a Double Bottom pattern, which indicates that a possible reversal is going to happen. Moreover, we can see how the price price strongly rejected the structure drawn on the chart, which signifies that the bulls have advantage over the bears. We will be opening BUY positions and aiming for the target illustrated on the chart. The trade is a middle-term one. Let's reach the target first, before analysing the chart again and making predictions on where it may move next.
Feel free to share your thoughts and opinions in the comment section, people!
Feel free to share your thoughts and opinions in the comment section, people!
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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.
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.