The market, as often happens, behaves quite capriciously. What started as a favorable week for buyers suddenly changed direction during yesterday’s trading session, shifting from positive to negative. Instead of the expected continuation of growth, the price began to decline. Now, the entire upward movement that began in mid-January this year looks very much like the development of an initial diagonal triangle. This pattern has already been formed, and the decline that occurred yesterday is most likely due to the beginning of a correction, which is generally considered to be a simple zigzag. Thus, if this is indeed the case, we can expect an attempt to rise, followed by a sharp downward move, which will lead to the completion of the zigzag pattern. It is not recommended to trade this situation, and it would be better to wait for the price to start impulsively rising again.
Investment idea: flat.
Origin: FreshForex
