AUCTION
Price is moving within a descending channel on the hourly timeframe. It has reached the minimum and is heading towards a breakout, with a test of the upper limit expected.
Relative Strength Index (RSI) shows a downward trend, approaching the minimum, and an upward rebound is expected.
There is a key support area in green at 4.60, and the price has rebounded from this level several times. Another rebound is expected.
The indicator shows a trend towards consolidation above the 100-period moving average, which we are heading towards, supporting the upward movement.
Entry price: 4.70
Target One: 4.92
Target Two: 5.10
Target Three: 5.33
Stop loss: below the green support area.
Remember this simple thing: money management.
For any questions, please leave a comment.
Thank you.