Price is currently consolidating above trendline support and nearing a confluence zone of trendline resistance and a major Decision Point. Structure remains bullish after multiple BOS (Break of Structure), but momentum is slowing.
Two scenarios in play:
Bullish Case: A breakout above the descending trendline and Decision Point could lead to a push toward the Strong High and higher targets.
Bearish Case: A rejection from this zone may trigger a liquidity grab, targeting the lower Order Block zone around 0.79300, just above a strong low.
Waiting for clear reaction and price action confirmation at the Decision Point before taking a position. Patience is key.
Two scenarios in play:
Bullish Case: A breakout above the descending trendline and Decision Point could lead to a push toward the Strong High and higher targets.
Bearish Case: A rejection from this zone may trigger a liquidity grab, targeting the lower Order Block zone around 0.79300, just above a strong low.
Waiting for clear reaction and price action confirmation at the Decision Point before taking a position. Patience is key.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.