A probable LH may be forming. The end of the continuation of the ABCD pattern is pretty consistent with two previous lows. If we see a break in the RSI trend, I will be looking to enter a trade. Looking at all the recent candles this pair is pretty jumpy so I might opt for a smaller risk than 2%.
Note
We are not there yet, but it is starting to shape up. I added a possible bearish failure swing on the RSI. Downward movement would also be consistent with approaching the bottom of the current channel best seen on the 1D chart.Note
I may have gotten carried away - technically a bearish swing does not yet apply since the RSI did not go above 70.
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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.