So I'm seeing a potential shift for buys. Price is having a hard time breaking a resistance area. With liquidity, this gives the big money a sling shot before taking off with an impulsive move. Don't get greedy! Make sure you perfect your entries with a simple method...Supply & Demand, but stay patient with price breaking structure on smaller time frames to give...
Price has hit a M5/M15 trendline that is also at the moment active as a H&S. If price breaks above H1 high, looking for more buying opportunities and price to reach 188.800 level or possibly higher
Potential H&S pattern. Divergence may formulate on the 15/30min time frame for entry around 160.5 QP. TP: 161.0, 161.5 & 163.0 for long term hold. Failure of reversal at 160.5. We have 160.0 & 159.5 are other potential targets. Be aware of false breakouts to the downside as well. Timeframe correlation is key.
Looking for price to make a small push to the upside. Structure from the trend is still being respected. I do however believe sellers will be coming in to create a steeper retest once take profit is hit.