Things seem to not be fully complying with my initial analysis on this pair on weekly timeframe, yall remember that analysis I done did on weekly? Check my published ideas and see how the bulls are fucking my analysis up. But okay, back at it, I looked at it and figured that just after the neckline of the head and shoulder pattern created on weekly/daily, there is a bullish trendline there which is the support therefore indicating a possible reversal up. That was really a nice buy entry point! I hate how I missed that one. So what I see here which further confirms that is this cup and handle forming here nicely after the head and shoulder got extended further to that resistance at 1.16234 . So now, I am expecting the handle to form nicely in form of a consolidation or a flag there , if that is succesful, then we have two options.
Option 1 : At the breakout of the handle, be it a flag or a triangle, we then buy towards that resistance at 1.16234 as our first TP.
Option 2 : We buy after that resistance at 1.16234 is broken, applying therefore the cup and handle pattern rules and set a TP accordingly.
Whats your opinion?
Option 1 : At the breakout of the handle, be it a flag or a triangle, we then buy towards that resistance at 1.16234 as our first TP.
Option 2 : We buy after that resistance at 1.16234 is broken, applying therefore the cup and handle pattern rules and set a TP accordingly.
Whats your opinion?
