umersh008
Essential-bearish divergence indicated moving downwards -Head and shoulder patterns also indicate bearish move. Taking the position: wait for the price to break the neckline, wait for the retest followed by a strong bearish candle, then we can take our positions.
-Head and shoulder pattern, a bearish reversal pattern. -Bearish Divergence also printed, which further confirms bearish reversal. Note: Entry to placed at bottom of neckline, either place a sell stop order or wait for retest or break out and take entry
-rising wedge pattern at 4Hr Tf.(bullish scenario) -Harmonics butterfly pattern can also be observed. (not very accurate as the price seems to reverse from 1.4 instead of 1.6). -Unmitigated area towards the identified bearish OB, So prediction on price to move in that direction. Note: Wait for the price to reach our entry level, Observe the price action and take...
-Inverse Cup and Handle chart pattern on 4H Tf. -Entry point decided by nearest bearish order block. Note: We can take a position according to our understanding, we can wait for the price to reach our entry-level, and wait and watch wether the defined levels be tested. after that, we can take positions.
Scenario 1: -price to rally to a strong supply zone(bearish order block) and we can see a possible reversal. position can be taken once the price gets rejected from the marked area Scenario 2: -rising wedge and bearish divergence at 4hr Tf. -price to rally to strong demand zone( bullish order block) - position can be taken according to the mentioned area
-Cup & handle pattern.(bullish scenario) -Price at previous distribution area, if breaks price will move to next bearish order block.
-Rising wedge on 4HR TF(bearish indication) -Multiple Bearish divergence which hasn't been played out yet. -Price at strong bearish order block. possible reversal