When was the last time you saw a cup and handle formation?
This is also supported by the need for a retest of the broken Weekly TL, and the broken 4hr resistance turned support. Now we've reached 1.25, a correction is needed for further upside. Thus creating the handle for the cup.
Will watch for rejections at key 4hr zone with the 800ema also present there mid trade. Also good place to add 2nd entry if breaks.
This is also supported by the need for a retest of the broken Weekly TL, and the broken 4hr resistance turned support. Now we've reached 1.25, a correction is needed for further upside. Thus creating the handle for the cup.
Will watch for rejections at key 4hr zone with the 800ema also present there mid trade. Also good place to add 2nd entry if breaks.