Findings:
Time frame: D1
• Price still respecting the Long-term Downtrend and we don’t see any close above the trendline.
• Price has respected the resistance level 1.1176 again and a beautiful triangle pattern has been formed. Also we can see that a short term uptrend has been breached and price moved down again and respected a support level 1.1075
Trade Idea:
Long trade
• If the price break the long term trendline and retest the trend line we can easily go for long trades after 1.1176 upto 1.1250.
Short Trades
• We can look for short entries if price breaks the triangle and trades can be extended opto 1.099
Time frame: D1
• Price still respecting the Long-term Downtrend and we don’t see any close above the trendline.
• Price has respected the resistance level 1.1176 again and a beautiful triangle pattern has been formed. Also we can see that a short term uptrend has been breached and price moved down again and respected a support level 1.1075
Trade Idea:
Long trade
• If the price break the long term trendline and retest the trend line we can easily go for long trades after 1.1176 upto 1.1250.
Short Trades
• We can look for short entries if price breaks the triangle and trades can be extended opto 1.099