Bearish widening wedge breakout. Price also vioulated and retested key support and resistance level as indicated on the chart. Take profit zone is the start of the pattern.
FTR ON WEEKLY SIGNIFICANT SSR WHICH I BELIEVE WILL BE RESPECTED FOR ANOTHER LOWER HIGHER. FIBO REVERSAL ZONE OF 78.6 ALIGNS WITH THE LEVEL.
QM SETUP WITH TRENDLINE CONFLUENCE. ZONE ALSO ALIGNS WELL WITH THE 61.8 FIBO PRZ.
SIGNIFICANT RESISTANCE VIOLATED WITH BULLISH MOMENTUM IN DAILY. PRICE CREATED A FLAG LIMIT WITH COMPRESSION ON M30/H1. LOOKING TO GO LONG AT FLAG LIMIT WITH SIGNIFICANT LEVEL CONFLUENCE WITH HTF MOMENTUM
STRUCTURE ENGULFED OF WHICH PRICE IS COMING FROM A SUCCESSFUL DECISION POINT. SELLING OPPORTUNITIES AT THE FTR ZONE OR AT THE BEARISH DECISION POINT
Bearish flag remain intact with the trend. One more move down before a possible bullish continuation.
Rejection on support at 0.94030 and made a skew double bottom.Would be ideal to go long at break and retest of neck line.