This is a pattern that most traders know, breakout of range, retest. Price is set to fall. We will be waiting patiently for bearish candles to enter. We will probably risk 50-60 pips for at least 250 pips down. Let's wait for price action.
On D1, price has clearly broken out , it has come back to retest. We expect a trend continuation upward. We shall wait for a confirmation (bullish candles) to enter for 1:5 RRR.
After ranging for a few days, price finally broke out, downward; it is retesting. if the setup is respected, we will sell down to 0.9510 (1:3.5 risk to reward ratio)
Price has moved out of the ranging zone, it is retracing . A bearish candle is what we are waiting for for entry to target a nice risk-reward ratio (about 1:5). We would sell when price gets to 1.6065 ( our safe area).
We are patiently waiting for the pattern to be validated for sell.
The trend has changed after it was broken. Price is retesting the neck level of the M pattern. Again, if price closes around 1950 or below, we could have a H&S pattern for a short.
As seen on the chart, price has reached a major resistance level where it has been rejected multiple times. We also have a double top formation in addition to a bearish pin bar.