Hello friends,
Today I am looking at Forex currency pairs and what I see here is a great opportunity for a long on this pair. I really don't like giving the alternative to a bullish triangle but there is a slight chance that this could end up breaking down testing the support levels as indicated on the chart.
I haven't looked at hedge funds but the chart does tell the story of where investors are taking the price action. So for me, I see a bullish outcome because this triangle is situated with wave E on the opposite side of the barrier for which it should breach. Anytime there is a triangle, the price always (mostly)goes opposite to wave E.
My only advice is to watch for the breakout or breakdown, then make your entry knowingly where the price will go, either way, we have a great long or short, profit will be waiting for us.
Cheers!
Today I am looking at Forex currency pairs and what I see here is a great opportunity for a long on this pair. I really don't like giving the alternative to a bullish triangle but there is a slight chance that this could end up breaking down testing the support levels as indicated on the chart.
I haven't looked at hedge funds but the chart does tell the story of where investors are taking the price action. So for me, I see a bullish outcome because this triangle is situated with wave E on the opposite side of the barrier for which it should breach. Anytime there is a triangle, the price always (mostly)goes opposite to wave E.
My only advice is to watch for the breakout or breakdown, then make your entry knowingly where the price will go, either way, we have a great long or short, profit will be waiting for us.
Cheers!
