Reasons-
1) Rejection from the lower trendline.
2) Bears are expected to book profits here and bulls are expected to open new long positions here.
3) Stop hunting has been witnessed on the H4 and H1 timeframe.
4) Double bottom chart pattern.
5) Good RRR
6) Slope of shorter period exponential moving averages have changed the course from downward sloping to sideways.
Kindly trade at your own risk.
Good Luck ^_^
1) Rejection from the lower trendline.
2) Bears are expected to book profits here and bulls are expected to open new long positions here.
3) Stop hunting has been witnessed on the H4 and H1 timeframe.
4) Double bottom chart pattern.
5) Good RRR
6) Slope of shorter period exponential moving averages have changed the course from downward sloping to sideways.
Kindly trade at your own risk.
Good Luck ^_^
