Price has began Consolidating at a Known Pivot Point that hasn't been touched since 2020 and 2018. (Weekly Wicks/Buyer Exhaustion)
H4 shows Break of structure/Support to push down. Price is very choppy currently where it is. (Countertrending Break/ Support Break)
2 OPTIONS:
1. Price on H4 has already broken support and it now at NEW found Resistance but...
We can see in the chart that the is a possible SHS formation forming. For this to be valid we do need to have a break of the neckline first.
The thing that we can do now is just trade it long with our take profit level at the neckline and with our stop loss level right below the fake out that we got in the chart.
As mentioned in the chart we know that the fake...
