As you can see price in 4H time frame not only creating LL and LH but also we can see a Head & Shoulder chart pattern in this time frame. which suggest price could possibly have more downside move.
As you can see price has retraced to H&S pattern neck line and also created a false breakout of the neckline in 1H time frame but rejected immediately which showing us both selling pressure.
now in case of trading first we need to see price created a 1H bearish engulfing candle, then we need to see that bullish structure in lower time frame such as 30M and 15M shift to bearish. If this conditions appear in the market then any bullish corrective move in lower time frame could be our trigger to sell this pair.
Also we can see bearish divergence in 1H time frame which is another confluence to our trading idea.
1st target: 0.92000
2nd target: 0.91500
stop loss could be set around 0.92760
notice: only trade with your strategy and this is just a trading idea which should be inline with your trading strategy incase of trading.
As you can see price has retraced to H&S pattern neck line and also created a false breakout of the neckline in 1H time frame but rejected immediately which showing us both selling pressure.
now in case of trading first we need to see price created a 1H bearish engulfing candle, then we need to see that bullish structure in lower time frame such as 30M and 15M shift to bearish. If this conditions appear in the market then any bullish corrective move in lower time frame could be our trigger to sell this pair.
Also we can see bearish divergence in 1H time frame which is another confluence to our trading idea.
1st target: 0.92000
2nd target: 0.91500
stop loss could be set around 0.92760
notice: only trade with your strategy and this is just a trading idea which should be inline with your trading strategy incase of trading.
Trade closed: target reached:
both target reached very nicely
