Hello Traders,
This is a very interesting pair I would like to bring to your attention.
My approach to this is using the M and W patterns to build a narration for this long trade.
Starting off on the monthly timeframe, you will notice that price is making a bullish continuation and we just created a bullish CHOCH. The 50% fib level on my chart was draw on the monthly timeframe and as you would notice, price just traded below it and we can say we are in a discount level.
On the weekly chart, we are currently printing an extended M pattern and I speculate that we would likely get a retracement which would lead to the bullish rally.
Keep this pair on your radar.
Follow for more updates.
Cheers,
Jabari
This is a very interesting pair I would like to bring to your attention.
My approach to this is using the M and W patterns to build a narration for this long trade.
Starting off on the monthly timeframe, you will notice that price is making a bullish continuation and we just created a bullish CHOCH. The 50% fib level on my chart was draw on the monthly timeframe and as you would notice, price just traded below it and we can say we are in a discount level.
On the weekly chart, we are currently printing an extended M pattern and I speculate that we would likely get a retracement which would lead to the bullish rally.
Keep this pair on your radar.
Follow for more updates.
Cheers,
Jabari