JUST WANTED TO POINT OUT THIS TENSION ZONE.
PRICE IS STUCK BETWEEN THE UPPER TRIANGLE AND THE 50SMA AND 20SMA.
THIS TENSION WILL USUALLY CAUSE A BREAKOUT TO EITHER SIDE.
GREEN BREAKOUT UPWARDS
RED BREAKOUT DOWNWARDS (LESS LIKELY DUE TO THE W1 BULLISH ENGULFING BAR PRESSURE)
I AM ALREADY LONG AT 0.7700 AND HAVE SL AT BE AS TENSION IS BUILDING I WANT TO MINIMISE LOSS.
PRICE HAS ALSO RETESTED WITH SUCCESS PREVIOUS RESISTANCE TURNED SUPPORT (INDICATED BY RED ARROW)
IF THIS HOLDS, BREAKOUT UPWARDS IS MORE LIKELY AS THE 50SMA AND 20SMA WILL ACT AS SUPPORT TOO.
BEST OF LUCK,
SUBSCRIBE COMMENT AND LIKE MY IDEAS IF YOU AGREE OR DISAGREE.
PRICE IS STUCK BETWEEN THE UPPER TRIANGLE AND THE 50SMA AND 20SMA.
THIS TENSION WILL USUALLY CAUSE A BREAKOUT TO EITHER SIDE.
GREEN BREAKOUT UPWARDS
RED BREAKOUT DOWNWARDS (LESS LIKELY DUE TO THE W1 BULLISH ENGULFING BAR PRESSURE)
I AM ALREADY LONG AT 0.7700 AND HAVE SL AT BE AS TENSION IS BUILDING I WANT TO MINIMISE LOSS.
PRICE HAS ALSO RETESTED WITH SUCCESS PREVIOUS RESISTANCE TURNED SUPPORT (INDICATED BY RED ARROW)
IF THIS HOLDS, BREAKOUT UPWARDS IS MORE LIKELY AS THE 50SMA AND 20SMA WILL ACT AS SUPPORT TOO.
BEST OF LUCK,
SUBSCRIBE COMMENT AND LIKE MY IDEAS IF YOU AGREE OR DISAGREE.
