W1 Chart:
-Price has reached its resistance zone( we will be looking for possible sell positions at this zone )
-Price hasn't been higher than this zone since 2015.
D1 Chart:
-Price is forming a rising wedge.
-Diagonal resistance is creating 3rd bounce off the resistance line.
-Price created a bearish pin bar at diagonal resistance which is a strong shorting signal.
H4 Chart:
-Price created a bearish pin-bar entry signal followed by a bearish confirmation candle.
all these elements of confluence give us a good idea of a possible short opportunity with this pair.
-Price has reached its resistance zone( we will be looking for possible sell positions at this zone )
-Price hasn't been higher than this zone since 2015.
D1 Chart:
-Price is forming a rising wedge.
-Diagonal resistance is creating 3rd bounce off the resistance line.
-Price created a bearish pin bar at diagonal resistance which is a strong shorting signal.
H4 Chart:
-Price created a bearish pin-bar entry signal followed by a bearish confirmation candle.
all these elements of confluence give us a good idea of a possible short opportunity with this pair.