The market is trending downwards, indicating a bearish sentiment, with the price pulling back to the 0.786 Fibonacci retracement level. A supply zone has been identified and defined as an order Block. Confirmation of the trade setup has been completed with a break of structure on the 15-minute timeframe (head &shoulders). The stop loss is positioned 10 pips above...
Currently, the market is forming a Head and Shoulders pattern, which suggests a potential reversal. On the 1-hour timeframe, a Cup and Handle formation has been identified, but the breakout isn’t strong enough yet, and a retest hasn’t occurred. However, volume confirmation on the 4-hour chart signals that the breakout may be imminent.
On the 15-minute chart, we...
The price is trending upward within a channel. In the short term, the price has broken through the support of a "head and shoulders" chart pattern (indicated by three circles for the head and shoulders). We need to wait for a retest and rejection towards the trendline of the channel. If we observe high volume, indicating buyer entry, and a reversal chart pattern...
