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- Price touched the major support level at the recent low, confirming buyers’ activity.
- After that, a QM (Quasimodo) pattern formed, often seen before reversals.
- The descending trendline has been broken, showing weakness in bearish momentum and a potential shift to the upside.
- A long entry can be considered in the QM blue zone, which is now acting as a demand area.
- As long as price holds above this zone, the bias remains bullish, with potential for continuation higher.
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Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
Forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.