The price is following a falling flag/ channel according to higher timeframes (Weekly), it has reached the lowest trendline of the channel. It has broken out thus forming a bear trap.
According to the lower timeframe (1H, 15 minutes), an ascending triangle is formed which might be a big indicator of a bullish trend.
Let us wait for the price to break out of the resistance zone formed and now look at the long term strategy of the price.
Entry @ 0.787 Target @ 0.796, SL @ 0.784
R:R 1 : 3
Remember, risk 1 - 2 % of the account.
According to the lower timeframe (1H, 15 minutes), an ascending triangle is formed which might be a big indicator of a bullish trend.
Let us wait for the price to break out of the resistance zone formed and now look at the long term strategy of the price.
Entry @ 0.787 Target @ 0.796, SL @ 0.784
R:R 1 : 3
Remember, risk 1 - 2 % of the account.