Price is in a parallel channel and is also forming a descending triangle. I expect price to make a fake break of the horizontal support and be rejected by the channel support
I would be going long from this parallel channel support and horizontal support to the touch of the channel resistance and supply zone from where I would short this pair.
PRICE MIGHT BE FORMING A HEAD AND SHOULDERS PATTERN. I WOULD GO LONG FROM THIS HORIZONTAL SUPPORT AND CHANNEL SUPPORT AND GO SHORT AT THE REGION OF THE SUPPLY ZONE AND WEEKLY RESISTANCE FOR NOW
I see price could form an inverted head and shoulders pattern. I would be going long at the formation of the right shoulder which I see to start from the demand zone. I would be shorting This pair when price reaches the supply zone and retests the trend line.
If price breaks out of bullish channel, I l would be shorting this pair if price retests the trend line at the supply zone to make a head and shoulders pattern.
Price is at a demand zone and has shown a bullish english candle stick. It has also bounced off a descending trend line and I expect price to go long from this area to the parallel channel resistance and supply zone.
Price is at a bearish resistance and supply zone. I expect trice to drop to weekly demand zone to form a double bottom which would signal a change in market structure and start a bullish run. Please share your opinions and idea (There is a second post for this idea for the Daily Time frame)
