Currently you could see how this pair have slowly unraveled. It’s still respecting the red curved line ( look at my previous analysis) it did a pullback from exhaustion for the last two days. Then went bearish this morning which means market first sentiment is shorts. Pull back up touching past fib 6.18 and resume to moving lower ( possibly a liquidity grab). Higher time frame price action still remain bearish. At the moment it looks like a head and shoulder is in the making ( A bearish top pattern close to the red curved line that acted as strong resistance barrier).
Wait for price to show its hand and only place shorts after head and shoulder fully develops, breaks below neckline and close with a confirmation.
May the patient trader win
Wait for price to show its hand and only place shorts after head and shoulder fully develops, breaks below neckline and close with a confirmation.
May the patient trader win
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.