Price has reached a key area of support and is showing signs of selling exhaustion with 4HR candle wicks rejecting of that 1.25000 regions, it's formidable for the price to create a potential lower high or even retrace to a key psychological zone of 1.26000. On the 30min time frame, we see price creating an inverse head and shoulder pattern suggesting accumulation is happening before a potential reversal.
Trade closed manually
Trade closed at breakeven, expecting further downside movement to 1.24800 looking for more efficient entry
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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.