The Price at This point is showing some signs of reversal price action. However the price haven't yet fully confirmed the reversal strength. Therefore price is in a level where we can expect a Potential Double Bottoms whereby we waiting for a formation of a Descending Channel then break above in a first impulse follwed by a continuation correction. As the price continues to evolve we'll keep monitoring to see any development of new structures in the market, but for now that's the 1st scenario we're focusing on.
Trade aktif:
Price respected the predicted setup, whereby we managed to get an entry point and triggered in a trade.