Looking on the weekly chart, if we can hold this current area where we saw previous lows, this will be a very strong push to the upside.
As we know the higher the time frame, the stronger the pattern and we can see a very nice head and shoulders pattern just in the right shoulder at the moment. To add to this we can also see a weekly Doji candle so this is another great confluence to add to our reversal long bias.
However, there is still the possibility of dipping into the previously highlighted liquidity zone, and id we do see this all the better for the long trade!
As we know the higher the time frame, the stronger the pattern and we can see a very nice head and shoulders pattern just in the right shoulder at the moment. To add to this we can also see a weekly Doji candle so this is another great confluence to add to our reversal long bias.
However, there is still the possibility of dipping into the previously highlighted liquidity zone, and id we do see this all the better for the long trade!