I expect price to move up in the long-term. As of right now, price is forming a double bottom, which might lead to a break above the TL. As stop raid could happen before the up move. For a conservative approach, wait for a break above the TL and a pullback to enter long.
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If you like my analysis, please click the like button. Also, make sure you follow me for updates.
Happy Trading!
Kommentera:
Price indeed did a stop raid as I mentioned. I got stopped out by less than 2 pips in the process. Price then move towards where I have marked but didn't quite make. Price is a bit chaotic right now, so I need to update my analysis.