Quite self-explanatory. Price made a strong breakout up to the 1.09000s (1), consolidates and creates a shoulder-head-shoulder pattern on the chart.
Now currently waiting on price action reacting from the swing point (black line) and may bring price down back to the strong resistance line flipped from support (2).
Thereon, again, depending on price action, I'll take the next trade. Will update on more in the future.
Now currently waiting on price action reacting from the swing point (black line) and may bring price down back to the strong resistance line flipped from support (2).
Thereon, again, depending on price action, I'll take the next trade. Will update on more in the future.
Note
Price broke swing point and made higher high. Scrapped!Note
Price has finally come down and reacted on the support level. Moreover, it produced a rejection candle showing strong bulls are around. Longs are confirmed.
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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.