Possible Candle Formation Will Determine Trend Direction
Updated
This looks like an incomplete inverted head, neck, and shoulder forming on the 4hr after the strong bullish move the later half of last week. We did pass a weekly level, so a pullback is likely, but may not hold for very long. If we breakthrough both the weekly 1.55481 and daily level 1.53147 areas, we'll continue on the downtrend seeking to reach a new low. Let's see how this plays out.
BULL TPs:
• 1.55140
• 1.55357
• 1.55772
• Stretch TP: 1.57114
BEAR TPs:
• 1.54481
• 1.53962
• 1.53488
• 1.53147
• Stretch TP: 1.52359
BULL TPs:
• 1.55140
• 1.55357
• 1.55772
• Stretch TP: 1.57114
BEAR TPs:
• 1.54481
• 1.53962
• 1.53488
• 1.53147
• Stretch TP: 1.52359
Trade closed: target reached
All BULL TPs were hit on January 28th, 2021
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