Hi Traders!
The setup of this idea is that the market is now at the weekly Trendline.
There, it formed a Head-and-Shoulders Pattern, which indicates a down-movement.
At the same time, the market is in a bearish Flag.
The Breakout of this flag could possibly serve as an Entry Trigger.
You can take profit at the next major Support, which would be the weekly TL or the Support @ around 0.91200
Here are the things again in nutshell:
If you have something to add or another point of view, do not hesitate to comment!
Thanks and successful Trading :-)!
The setup of this idea is that the market is now at the weekly Trendline.
There, it formed a Head-and-Shoulders Pattern, which indicates a down-movement.
At the same time, the market is in a bearish Flag.
The Breakout of this flag could possibly serve as an Entry Trigger.
You can take profit at the next major Support, which would be the weekly TL or the Support @ around 0.91200
Here are the things again in nutshell:
- Weekly Upper Trendline
- Head & Shoulders Pattern
- (Break of) Daily Support at around 0.92200
- (Break of) Bearish Flag Pattern
If you have something to add or another point of view, do not hesitate to comment!
Thanks and successful Trading :-)!
Note
Just for the overview ;-)
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Related publications
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.