Hello everyone in this post i am noticing how price has broken a monthly trendline(the purple one) and after breaking it has been in consolidation for quite some time. When i took a closer look at the structure I noticed that there was a harmonic pattern back in the beginning of December of 2020, since then price came back and retested the supply zone so from that point i was was looking to go bearish but based on the evidence from the market this is not the best time to go short in my opinion based of the liquiditypool at that level(. Although since price is respecting the circular resistance from the breakout of the flag the momentum is currently in favor of the bears, as traders we should be aware of any events that may happen beyond what we see on the screen. LIKE,COMMENT AND SHARE IF YOU AGREE OR ENJOY THE CONTENT! DROP A PIC OF YOUR ANALYSIS SO WE CAN BRAINSTORM DIFFERENT PERSPECTIVES!
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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.