Double bottom = Arcing formation
Price makes a double bottom after ECB announce Interesst Rate creating an arcing formation at the third touch of descendling trendline
Now we can see that the minor support and resistance breaks up by pulling back.
We can open a long position now
If price breaks down again then we need to wait for corrections to anticipate next impulse wave
Now we can see that the minor support and resistance breaks up by pulling back.
We can open a long position now
If price breaks down again then we need to wait for corrections to anticipate next impulse wave
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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.