CAMMACD.Sit is showing a potential for 1-2-3 pattern. Point 1 is a momentum move (trend), Point 2 is correctional, Point 3 will be impulse. If the price doesn’t break the point 1 to the downside and makes a break above 2 1596 is the level to watch for a breakout up. Whatever happens both m15 and H1 are showing uptrend which is aligned with H4. If the price drops below the channel – 1570 then I will move to H1 and search for 1-2-3 patterns there. Target is 1609.22 with a potential for 1622.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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