-Since the end of March 2020, the price has been moving in a strong uptrend until it reached the main weekly at about 0.93000, important level that rejected and inverted the market's trend. High and strong momentum gave to the price the opportunity to move up so quickly.
-A nice trend correction (until the 0.61% of Fib retracement) followed the strong uptrend, before starting a short period of consolidation.
-At the end of May, the price bounced on a daily support, giving a nice expectation to grow again, but the market started a long side trend, bouncing up and down between the resistance and .
Since the end of November 2020, the price tried twice to reach the , failing both of the times (long shadows on the top upbars could be a sign of reverse and weakness of the market).
The market is definitely moving with a clear daily side trend, few days ago it failed the attempt to reach and break the that seems to be really strong.
A pattern, up bars with small body and long shadows, make me think about a weak market and an upcoming short event! I don't have any short position opened right now, because the pattern hasn't confirmed any market reversal yet.ù
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