From my previous post in Chinese version, the price failed to garner enough selling strength from the supply zone just above 1.14.
However, the rebound from a slight drop prove to be weak as well, giving the seller another opportunity and space identify a stronger supply zone to short.
Base on the technical setup, a harmonic pattern is about to form within a supply zone at 1.1440. It is, at the same time, an AB=CD pattern which favours selling too.
This is still a pre-mature state of a harmonic pattern since the price has yet to break above point C at 1.1423.
Let's wait for the price to climb higher during the European session and see if can reach the higher supply zone for us to go for a sell during the U.S. market hour.
However, the rebound from a slight drop prove to be weak as well, giving the seller another opportunity and space identify a stronger supply zone to short.
Base on the technical setup, a harmonic pattern is about to form within a supply zone at 1.1440. It is, at the same time, an AB=CD pattern which favours selling too.
This is still a pre-mature state of a harmonic pattern since the price has yet to break above point C at 1.1423.
Let's wait for the price to climb higher during the European session and see if can reach the higher supply zone for us to go for a sell during the U.S. market hour.
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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.