Hi everyone today when analzing the markets I found a few ideas I would like to share to you and all of the trades I publish I then also trade them.
7PM UTC : Bulls push price above previous resistance but now without indicating a weakness.Then price stalls got overextended and formed a rising wedge + RSI DIVERGENCE and RSI OVERBOUGHT again making or probablities stronger to be right.
So I expect three scenario's that would likely to happen
1.Price would head down break the trend support and head lower to around 1.38000 2.Price could find support around 1.3950 and potentially form a Head&Shoulders pattern 3.Price will find support at the trend and continue higher to almost 1.4150 before heading lower
Also I am very aware of the economic events and will watch it closely before release and potentially headge my position for safety.