The symbol was making an inverse head and shoulder to go up but instead now formed two corrections and LTF and headed lower.
Note
Although the Price has impulsed up but still the bearish scenario is still intact. Price is currently impulsing up but will eventually stall at nearby resistance since some news from US is also expected in a few minutes. I will update Idea further.Note
Don't Know how to share chart image here.. but here is a link of what I am expecting from price.Note
we will adjust our stop loss on new correction once it forms.Note
After US news as expected price is impulsing back down we will wait for continuation correction to form and then adjust our stop and entry.Order cancelled
As per latest price action price has still not made the required correction hence setup invalidated.
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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.