#NESN
The downward pattern of the H1 level ended with the breakout of the inclined channel (aC). Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions. Probably the descending H1 pattern is the wave (B) of the ascending pattern of the H8 level.
Trading idea:
Buy when …
The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages directed upwards. The descending pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold condition.
monitor the price movement in real time.
Trading …
The pair rises, but currently remains in a short-term flat trend ahead of Joe Biden’s inauguration and possible new stimulus measures for the US economy. The price may fall if today’s consumer inflation data shows growth.
Technical side:
The price is above the middle Bollinger band, above SMA 5 …
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