Three scenarios may play out but no matter what your position is you'd be hoping for either Scenario A or C and not B.
LRC is still below the Red Extended Resistance Trend Line and the 12EMA.
LRC is in a Falling Wedge (Bullish Pattern).
Stoch RSI: Oversold Region
RSI: On the 4HR TF has a Bullish Divergence.
Breaking the Green Support Bar could bring LRC down to 1.11
LRC meeting up with the 12EMA could push price back up to 1.6 - 1.7
LRC could continue to range inside the Falling Wedge this week.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader
LRC is still below the Red Extended Resistance Trend Line and the 12EMA.
LRC is in a Falling Wedge (Bullish Pattern).
Stoch RSI: Oversold Region
RSI: On the 4HR TF has a Bullish Divergence.
Breaking the Green Support Bar could bring LRC down to 1.11
LRC meeting up with the 12EMA could push price back up to 1.6 - 1.7
LRC could continue to range inside the Falling Wedge this week.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader