The case for entry to go for buy opportunity on this pair:
1) The price has made a U- Turn on the Demand Zone at 127.710. (You can see the presence of buyer on that zone). Increase Demand = Price goes higher.
2) Identification of Seller as shown on the Blue Arrows. (Supply Zone). Thus the Supply Trendline has been drawn to connect the price activity of the Seller.
3) Reactive than Predictive. The Supply Trendline has been broken and as you can see once the price breaks out from the Supply Trendline, the demand increase and push the price higher. This provides us with the opportunity to go long for this pair.
4) 123 pattern with Trendline Breakout
Target:
Profit Level is at 129.08
Stop Level is at 127.826
1) The price has made a U- Turn on the Demand Zone at 127.710. (You can see the presence of buyer on that zone). Increase Demand = Price goes higher.
2) Identification of Seller as shown on the Blue Arrows. (Supply Zone). Thus the Supply Trendline has been drawn to connect the price activity of the Seller.
3) Reactive than Predictive. The Supply Trendline has been broken and as you can see once the price breaks out from the Supply Trendline, the demand increase and push the price higher. This provides us with the opportunity to go long for this pair.
4) 123 pattern with Trendline Breakout
Target:
Profit Level is at 129.08
Stop Level is at 127.826