- Wedge is clearly narrowing. - We are possibly close to breaking out from this bearish channel and start a new bullish impulse wave up.
It could be a ascending triangle forming here, I've measured out the potential target, hopefully we will see another re test of the recent high (orange line) soon.
However, a drop below the ascending trendline will crush the bullish hope and we can nose dive to the middle of the channel.
I'm long right now but it's a big risk.
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4h bearish outlook looks bad so lets hope we don't go here
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Whoops. Above chart chart was in EUR :)
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Proper ascending trangle on the 15 min chart about to break upward.