Price at important supply zone , it is in upward channel, there was some impulse after double top and retest to the level. If we see some bearish evidence, it might good idea to short to Fibo 618.
This is counter trend trade so be very cautious.
Reason to trade:
supply zone on weekly
double top and retest on hourly
impulse after double top
ascending channel
Fibo 1.272
This is counter trend trade so be very cautious.
Reason to trade:
supply zone on weekly
double top and retest on hourly
impulse after double top
ascending channel
Fibo 1.272
Note
there is no bearish evidence so if price make new high, this idea is invalidatedNote
on 5 minute chart , H&S is forming, there is chance for this trade to materialize
Note
with that price action, it is for us to decide to take the trade or not, small Stop above the high should do the job if this market wanted as expected
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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.
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.