In the H4 time frame we have three reversal patterns, an , an and a .
Furthermore, first two reversal signals shape a tweezers top.
Thus, we have different reversal signals that can give us short opportunities that could push the price near 123,6% Fibo retracement or in 0,71437 price level.
This price level is 23,6% retracement level calculated on on high at 0,81625 and low at 0,68290.
This level is important because is a good support, between 24/05/2016 and 30/05/2016 price action shaped with a beautiful .
Furthermore the lower shadow touched a long (you can see that on ).
So, if the price action will go down, we had two good TP levels with a SL that could be placed above 0.74211 (23,6% retracement level on H4).
If the price goes up, we will wait for the end of the correction, in this scenario the explanations writed above will be valid.
I hope I've done a good analisys.
Please write me suggestions or your opinion, I'll appreciate that.
Waiting the end of correction with operative signals to entry short.
In this moment a doji appeared, will be this our signal?