The EURUSD on a 4H chart shows a drop down to a strong support range (Orange range) which aligns with the 0.618 Fib. Around those levels, the price started forming a potential double bottom.
For the pattern to be valid, the price needs to go up without dropping below the low points and produce an effective breakout above the neckline range ( Blue range )
Additional confluence: RSI is showing a Divergence
For the pattern to be valid, the price needs to go up without dropping below the low points and produce an effective breakout above the neckline range ( Blue range )
Additional confluence: RSI is showing a Divergence