From the graph, we can see that previous 3 movement (A,B,C) to the downside the price length is from 200 Pips- 240 Pips. The current downward movement D has reached a price length of 200 Pips. Thus, based on past movements once the price length has reached a certain length it is going to go back to the upside.
Furthermore, from the opening today we can see that there is a gap in the price.
Hence, from this two assumptions there is a possibility that the market will reserve the current downward movement and head to the upside. However, we will need to wait for today’s candle closing to confirm the entry.
Furthermore, from the opening today we can see that there is a gap in the price.
Hence, from this two assumptions there is a possibility that the market will reserve the current downward movement and head to the upside. However, we will need to wait for today’s candle closing to confirm the entry.