Sell Climax
Downtrendline Breakout.
Price rallied and stalled around long term EMA's
From there, we get a retest of the Bottom prior to the Trendline Breakout. This test produced a lower low structure.
We had a nice 2B candlesticks reversal pattern from the 1.380000 zones.
Now, the erstwhile Sell Climax has become a ZONE, RESISTIVE to price.
Once taken down, cable should rally hard.
I see the TL Breakout Rally Limit as first target, followed by the start of this downtrend, tha is if the trend is still fierce.
On the reverse side, should this level continues to remain a ceiling, the price might head back down to the 1.380000zones again. (But this is less likely, imho)
Downtrendline Breakout.
Price rallied and stalled around long term EMA's
From there, we get a retest of the Bottom prior to the Trendline Breakout. This test produced a lower low structure.
We had a nice 2B candlesticks reversal pattern from the 1.380000 zones.
Now, the erstwhile Sell Climax has become a ZONE, RESISTIVE to price.
Once taken down, cable should rally hard.
I see the TL Breakout Rally Limit as first target, followed by the start of this downtrend, tha is if the trend is still fierce.
On the reverse side, should this level continues to remain a ceiling, the price might head back down to the 1.380000zones again. (But this is less likely, imho)
