Looking at the price movement on the one hour chart, we can see that a symmetrical triangle formation has occurred in the last few days. As our predictions for the price movement on the monthly, daily, and four-hour timeframe are staying the same, meaning that we are expecting the price to move further in the bullish direction, that is the same that we do expect on the hourly timeframe. Most of the times when the price makes a symmetrical triangle formation after a bullish impulsive move, it exits the formation on the bullish side makes a retest of the upper resistance line that has become support after the breakout and then makes a bounce further up.
We wish you good luck with your trading!
We wish you good luck with your trading!