Pair has failed to make a new swing high
Price is making lower highs lower lows
Price can bounce bullish off 50 sma or break below it
Price can consolidate between 50 and 100 sma
As price falls from 50 to 100 sma it can go half way and return back to 50 sma
If that happens price can move above 50 sma and rise to swing high target
Or price can bounce short off 50 sma and fall to 100 sma
If price breaks below 100 sma it may fall to swing low target
Watch Macd in relation to Macd red line, 0 level line, Stoch blue dotted lines
Price is making lower highs lower lows
Price can bounce bullish off 50 sma or break below it
Price can consolidate between 50 and 100 sma
As price falls from 50 to 100 sma it can go half way and return back to 50 sma
If that happens price can move above 50 sma and rise to swing high target
Or price can bounce short off 50 sma and fall to 100 sma
If price breaks below 100 sma it may fall to swing low target
Watch Macd in relation to Macd red line, 0 level line, Stoch blue dotted lines
Note
Pair has made a new high. Lets see if the bullish trend continues if newer higher highs and higher lows are made. Or if the bullish trend fails and price moves back into the triangle.
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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.