So if you follow this pair, you might have already noticed that we have broken the daily uptrend line, beautifully came back up and retested it and got rejected. Market has stopped putting higher highs, and we are simply seeing the formation of lower low and lower highs. I ended up shorting right at the neck line after the formation of the head and shoulders
pattern, right after the rejection of the trend line
, looking for targets at the retest of the previous lows. Very simple analysis, based off of simply price action, support and resistance
, and that is really what the market comes down into! I hope the trade works out and wish everybody luck!