HTF - The market has been moving bullishly since May 2021, forming an ascending channel.
With an impulsive move to the upside, nearly touching the HTF top channel.
LTF - With an HTF bullish bias, I am considering possible outcomes out of the HTF top of the channel which implies the reversal, where to me we've already started doing and appears to be forming a kind of head and shoulder pattern.
With that said, there's still the possibility that the market will move higher, since the Dollar is doing pretty well economically, however in my perspective, in order for dollar strength to carry further north a break of the HTF ascending channel followed by a correction must happen, however until then, I'm probably going to be more bearish biased if price breaks the right shoulder down.
With an impulsive move to the upside, nearly touching the HTF top channel.
LTF - With an HTF bullish bias, I am considering possible outcomes out of the HTF top of the channel which implies the reversal, where to me we've already started doing and appears to be forming a kind of head and shoulder pattern.
With that said, there's still the possibility that the market will move higher, since the Dollar is doing pretty well economically, however in my perspective, in order for dollar strength to carry further north a break of the HTF ascending channel followed by a correction must happen, however until then, I'm probably going to be more bearish biased if price breaks the right shoulder down.
