Possible H&S pattern. If an equal measurement of the chart pattern does indeed play out, 600 pips are up for grab.
Note
Weekly view: A close back in would be crucial and optimal
Note
Daily view: Pinbar followed by a strong bearish engulfing candle. Important to see if H4 candles do bounce off the trendline to signify that it's a new found support or whether the move up was just a manipulation by the big boys to get in and act as a stoploss hunt
Note
Watch for any rejection as a confirmation to go short
Note
Move came a little late but was worth the wait. More to come
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.