Price Rejection to 1.050 Level, Poss. Short+Butterfly Formation
I see a possible early forming Bearish Butterfly Pattern. At the moment i can't confirm very much on the harmonic pattern as in its too early to say so. Instead I am purely using the pattern shape to gauge the possible price movement and use Price Action to further determine on the possible entry position.
As of the chart, we see that price have been rejecting 1.050 for twice. so thats why Last Week I took my short. And looking at last friday's bar, price actually punch thru the next support level @ 1.0365 and it closed back up to the support level. if Monday's Candle can close below the support level & able to reject both the EMAs that will be probably a good continue shorting signal.
As of the chart, we see that price have been rejecting 1.050 for twice. so thats why Last Week I took my short. And looking at last friday's bar, price actually punch thru the next support level @ 1.0365 and it closed back up to the support level. if Monday's Candle can close below the support level & able to reject both the EMAs that will be probably a good continue shorting signal.
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