There is no trend in the market and the price is in a range bound, but we forecast the beginning of uptrend.
There is a divergence in and price between the trough at 1.3205 on 2018-05-29 and the trough at 1.2955 on 2018-07-19, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The bounced from the uptrend #1 and it prevented price from more losses.
While the resistance #2 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in at 1.2955 on 07/19/2018, so more gains to resistance(s) 1.3170, 1.3280, 1.3460 and more heights is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
( ) is 45.
. We have already opened 9 BUY trade(s) @ 1.3127 based on 'a reversal candle (Valley)' entry method at 07.24.2018 in our suggested (1.3050 to 1.2955).
Beginning of entry zone (1.3050)
Ending of entry zone (1.2955)
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
TP1= @ 1.3170
TP2= @ 1.3280
TP3= @ 1.3460
TP4= @ 1.3560
TP5= @ 1.3655
TP6= @ 1.3830
TP7= @ 1.3970
TP8= @ 1.4345