towards the 1.2800 level. This is because the distance between the EMA 50 and SMA 200, indicating a bullish trend, is quite significant. It's unclear if there will be any changes in the trend direction in the near future, and if there's a sudden downward correction, it may only reach the trendline. However, when a downward correction reaches the trendline, it breaks the structure as the low prices of 1.2680 have been successfully surpassed. This means the price may not experience an upward rally but rather move downwards as the price pattern structure enters lower lows and lower highs. So far, the SMA 200, acting as dynamic support, hasn't been touched at all. The price, consolidating around the 50 EMA, could bounce upward at any time, supported by the Stochastic indicator. Parameters failing to pass the level 50 are experiencing crossings and have the opportunity to enter the overbought zone. Thus, the upward rally may continue until parameters crossing into the overbought zone clearly indicate that the overbought point has been reached to the maximum extent. From a trading standpoint, it's evident that one should continue following the direction of the bullish trend, which is still very strong, so keep a BUY entry position when the price corrects back to the EMA 50. Confirmation should come from the Stochastic indicator parameter that has crossed the level 50, but one can attempt to wait for parameters crossing into the oversold zone. The 1.2800 level can be used as a take profit target or even higher, as conditions are still bullish, and stop loss/cut loss should be placed around the trendline or the low price
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