1. Daily timeframe ascending pattern: This is the first thing a price action trader will see once they view the D T.F chart.
2. An expansion is also visible in the daily timeframe of the pair.
3. Moving averages confirms the bias is mostly likely to be bullish.
4. Based on Elliot Wave theory, the pair is likely to make the second retracement wave to around the price 1.65000 and the proceed to make a huge 3rd wave.
5. Be sure that you use proper money management to ensure the safety of your account.
2. An expansion is also visible in the daily timeframe of the pair.
3. Moving averages confirms the bias is mostly likely to be bullish.
4. Based on Elliot Wave theory, the pair is likely to make the second retracement wave to around the price 1.65000 and the proceed to make a huge 3rd wave.
5. Be sure that you use proper money management to ensure the safety of your account.