In this ascending channel pattern, the price has recently reached a previous supply level at 0.7265.
I will be looking for a rejection of the supply zone at this level before taking a long position. I will identify confirmation of rejection at the supply level by a closed 4H bullish candlestick, and a cross over of the MACD and RVGI, which can already be seen to be occurring on the chart.
The crossovers of the MACD and RVGI in negative territory suggest a reversal in price from bearish to bullish may occur.
I will be looking for a rejection of the supply zone at this level before taking a long position. I will identify confirmation of rejection at the supply level by a closed 4H bullish candlestick, and a cross over of the MACD and RVGI, which can already be seen to be occurring on the chart.
The crossovers of the MACD and RVGI in negative territory suggest a reversal in price from bearish to bullish may occur.