The trend is ascending. The descending wave structures are truncated. The internal descending truncated structure ended with a breach of the inclined channel. The bears have tested the upper boundary of the Ichimoku cloud. The Awesome Oscillator indicator shows bullish divergence, and the Stochastic Oscillator indicator signals oversold.
Trading idea: …
The trend is descending. The currency pair is trading within the 365 and 135 moving averages (EMA) range. A breach of 1.1150 will give rise to the formation of a downward wave pattern within wave (C) of the main descending pattern.
Trading idea:
Sell on a breakout of 1.1150.
Stop …
The trend is descending. The ascending wave structure is truncated. Awesome Oscillator indicator shows bearish divergence, and Stochastic Oscillator indicator signals overbought.
Trading idea:
Sell on the formation of a descending wave structure, where wave (A) breaks the inclined channel of the ascending truncated structure.
Stop Loss: 1.1350.
Target levels: …
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