A number of confluences can be seen that confirms my short bias. The Weekly Timeframe shows bearish structure (Double Top) in between the fibonacci market structure zones. The weekly timeframe being one of the strongest timeframes for data supports this projection. Currently price has retraced to the 61.8% on H4 fibonacci and is creating bearish market structure....
Price has failed to break H1 demand zone which can be seen with the wick rejections clearly on the H1 and H4 timeframes. Market consolidated and slightly dipped for a liquidity grab before ultimately pushing to the upside before Friday's close. The bullish pennant pattern can be clearly seen via countertrend line (white) and current trend line (black). Extra...
