W1: We are in an impulsive move after the retracement of an uptrend
D1: We have an inverted H&S at a psychological level (112.00) which is also a strong Sup/Rez zone
H4: We can clearly see a couple of Shooting stars/Hanging man candlesticks which mean that price is retesting the zone but never closing above it So my view is that price will go down till Fib 61.80% level which is also a previous support zone plus keeping in mind that it is a confluent zone between: (a lot of confluence) -Fib 61.80% -D1 trendline -W1 trendline -previously tested support zone
Comment
⋅
P.S: watch out also for the ascending triangle on a D1 timeframe So after the pullback downwards... we may have multiple buy opportunities specially if we break the mentioned structure (triangle)
Update:
D1: we now have a hanging man candle
H4: we can see a lot of candles rejecting the price above 112.000
so watch out for a sell signal after the close of today's daily candle
D1: we now have a hanging man candle
H4: we can see a lot of candles rejecting the price above 112.000
so watch out for a sell signal after the close of today's daily candle