hey traders,
you can see price has created a inverted head and shoulder patter which is a reversal pattern after a bearish downtrend since March.
as you can see price is at the top of the bollingerbands which is also another confluence of a pullback, but i expect a pullback to the weekly support which is also the neckline of the inverted head and shoulders pattern.
if the neckline is respected - we can expect to see price to push up towards the 0.5 fib region which is also a nice area of resistance on the daily timeframe
await pullback
you can see price has created a inverted head and shoulder patter which is a reversal pattern after a bearish downtrend since March.
as you can see price is at the top of the bollingerbands which is also another confluence of a pullback, but i expect a pullback to the weekly support which is also the neckline of the inverted head and shoulders pattern.
if the neckline is respected - we can expect to see price to push up towards the 0.5 fib region which is also a nice area of resistance on the daily timeframe
await pullback