Major sell off @156.000 on June 1st 2021 breaking below previous high of 153.500 all the way to 148.300. Price basically
consolidated within that range in a wedge pattern before having a huge rally to the upside. Price then broke above key level of 156.000 but was unable to penetrate 158.000. Then price slowly declined having rejections @158.250, 157.770, 157.100 essentially breaking back under 156.000 in the manner of a downtrend. I'm expecting a pullback into 156.000-155.600, a clear formation of a LH (4hr) before the continuation to the downside making 148.300 our Target once again.
consolidated within that range in a wedge pattern before having a huge rally to the upside. Price then broke above key level of 156.000 but was unable to penetrate 158.000. Then price slowly declined having rejections @158.250, 157.770, 157.100 essentially breaking back under 156.000 in the manner of a downtrend. I'm expecting a pullback into 156.000-155.600, a clear formation of a LH (4hr) before the continuation to the downside making 148.300 our Target once again.
Trade closed: target reached
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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.