Even though there is plenty room to the downside. Price has stalled here at our key level. This can mean a few things
1. Price is consolidation to continue to downside.
2. Price is trying to form a reversal on lower time frame.
This is the beauty of forex, because we cannot decipher what pattern it is trying to form yet! We need to be patient and wait for price to show us if it will be a continuation pattern or a reversal pattern. No matter if we get downside. The upside to Uj is coming soon! So as it continues to drop and drop i will continue to look for buys!
1. Price is consolidation to continue to downside.
2. Price is trying to form a reversal on lower time frame.
This is the beauty of forex, because we cannot decipher what pattern it is trying to form yet! We need to be patient and wait for price to show us if it will be a continuation pattern or a reversal pattern. No matter if we get downside. The upside to Uj is coming soon! So as it continues to drop and drop i will continue to look for buys!