ADAUSD Possible indicator for long term reversal.

Taking a Fib retracement from lows at the end of last year to the closing candle high of this year during 16/17 July we see that the golden pocket zone (0.618-0.65) has been reached for a possible reversal. An ascending triangle is forming with momentum pushing from below signaling a possible break to the upside providing confluence. A long term will only be confirmed when we have broken and closed above the resistance of $0.10 with confirmation of sustained momentum and a few candles closing above that mark.

-The above is my opinion and not financial advice

Yorum:

A closure outside of the upward trend line could signal a start to the downside and failure of the reversal