This pair managed to break above its downtrend line, but unfortunately was unable to break above the price swing high.
Upon hitting that resistance, price did manage to break above for a few bars, but eventually gave up and formed a bearish H&S pattern and headed south instead.
After the neckline of the H&S broke down, which was a major bearish sign, the odds now greatly favour the shorts.
I will be looking to go short on pullbacks.
Upon hitting that resistance, price did manage to break above for a few bars, but eventually gave up and formed a bearish H&S pattern and headed south instead.
After the neckline of the H&S broke down, which was a major bearish sign, the odds now greatly favour the shorts.
I will be looking to go short on pullbacks.
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Telegram: t.me/synapsetrading
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Twitter: bit.ly/2DLoV6X
