Looking at W1 chart this pair is rejecting second time from a long term suppor (two pinbars)
After a bullis run the price formed a double top pattern at D1 chart:
Now is making a pullback and we can see a potential HS pattern forming (right shoulder).
We have the 0.61 fib retracement and a a short term support acting as resistance. I will put a sell limit order there.
A EW cycle major correction is in play also.
Best regards.
After a bullis run the price formed a double top pattern at D1 chart:
Now is making a pullback and we can see a potential HS pattern forming (right shoulder).
We have the 0.61 fib retracement and a a short term support acting as resistance. I will put a sell limit order there.
A EW cycle major correction is in play also.
Best regards.