Dear Investors
I'm currently monitoring price action on the H1 Timeframe for this pair and I have Identified a potential Head and Shoulder pattern
A Head and shoulder Pattern is a bearish price action, however it could easily turn into a bullish continuation Pattern because anything can happen
The neckline of this structure is a key level which mostly determines the resulting direction of price
Therefore, I am currently looking at 2 possible scenarios from here
1. If price fails to break below this neckline structure, then we could see a bullish reversal
2. If price breaks below this neckline structure, then we could see a bearish continuation
However, anything can happen, so let's stay patent and Execute based on your confirmation 👍
I'll be posting updates soon.
I'm currently monitoring price action on the H1 Timeframe for this pair and I have Identified a potential Head and Shoulder pattern
A Head and shoulder Pattern is a bearish price action, however it could easily turn into a bullish continuation Pattern because anything can happen
The neckline of this structure is a key level which mostly determines the resulting direction of price
Therefore, I am currently looking at 2 possible scenarios from here
1. If price fails to break below this neckline structure, then we could see a bullish reversal
2. If price breaks below this neckline structure, then we could see a bearish continuation
However, anything can happen, so let's stay patent and Execute based on your confirmation 👍
I'll be posting updates soon.
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.
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.