As we take a look into the weekly and daily time frames. Price is currently stuck in a squeeze looking to test the upward channel. Last week price broke to the upside against a short biased market. Price is currently at a liquidity level in the market. Price failed to break more the the upside to create a new higher high. As we look towards the daily chart
we can potentially see a double top
formation forming which aligns with our bigger time frame analysis. This week we look to take advantage of short orders as price may fall from this key level. Looking for pin bar
, bearish engulfing
bar or even a potential bearish
hamari for confirmation for entry.
My analysis are for educational purposes only. My post are not signals! Trade at your own risk. Happy trading!