Price has been consolidating and formed a small "Head & Shoulders" at resistance
looking to go short and TP between 0.71600 and 0.71500.
I am looking at this consolidation has a precursor to a major bearish move. KEEP CHECKING!
looking to go short and TP between 0.71600 and 0.71500.
I am looking at this consolidation has a precursor to a major bearish move. KEEP CHECKING!
Note
BTW for those who want to a position trading, this might be a great opportunity as well.On the weekly timeframe price action is sitting at a completion on a head & shoulder pattern. You can look at TP @0.63400, @0.60300 or @0.57000
Or, you can stretch it to TP @0.50000 at the completion of a "Super Head & Shoulders" LOL
Note
Not looking good for short that soon. Still with a bearish bias. I think this channel might continue for a while. Which in a way can be good for a stronger momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.