THE PAIR CONTINUE MOVING SIDEWAYS WHICH IS A GOOD TIME TO KEEP LOOKING FOR ADVANCE PATTERN WHICH COME THIS TIME IN THE FORM OF AN ADVANCE BATT FORMATION
THIS WOULD BE THE FIRST TRY TO CATCH THAT MOVE FOLLOWING THE COMPLETION OF A DT AT STRUCTURE , AND WITH RISK TO REWARD I WOULD BE VERY INTERESTED TO ENTER THAT TRADE
THERE IS NOTHING MUCH AROUND THIS LEVEL TO PREDICT THAT PRICE MIGHT FALL DOWN NOW BUT AT SOME POINT WE GONNA SEE IT FALL HOPEFULLY IT WILL BE BEFORE VIOLATING X
i would expect a continuation to the downside following the break of the head and shoulder neck line , if price make any retracement back to the 38.2 % we can can some profits with this cypher pattern
the only reason not to be so fired up about this trade is that price is in consolidation channel and it could break either ways so i would wait for a lower low lower close candle to confirm short .my analysis tells that we might see a continuation to the 4 h bearish trend and this is the point to look for a trend continuation opportunity
this is one of the situation where it worth taking because of the risk to reward and on the other side we see a nice setup here starting from a DT on the daily and as we drop down to the h1 chart we see another DT now i'm waiting for the 61.8 % retracement where i have my sell order ,,the very good thing about this trade is that even though i look for a little...
i would expect price to show a little relief from this point down to some fibonacci levels as it's more of a consolidation now so i would expect that even minor structure levels to be respected
looking for short on this pair which would start with a strcture trade trying to sell the bull back inside the red box as it's the place where i could get a 1:1 risk reward ratio once the price enter that red zone i will be looking for short entry or else i would wait for the cypher pattern to complete
as i see price put in a lower low lower close there is a chance to get involve in the next leg down with an aggressive entry following the cypher pattern or a batt pattern with an entry a little bit higher , if it doesn't work then we might complete the second which is protected with a strong level of resistance
