Bearish momentum is identified as this week opened in the markets, especially on the smaller time frames (15M, 30M). This was very much anticipated by myself being that there was a strong bullish run on Mar. 31 2020 that was never mitigated out of. Imbalance was identified at the 2.0550 price level which is where I, personally would be looking to find long...
Testing old concepts with new concepts.
Seems as if Bulls will regain control, however, we struggle to clear previous highs.
Head & Shoulder pattern is pops up and first shoulder touched 61.8 so clean.
Anticipating a Break & Retest.
May sweep Equal Lows & Create a NEW Equal Low if bears take control.
If Bulls take control I assume a temporary bull run until...
Currently in downtrend.
1st Entry would be at the break of neckline.
2nd Entry looking for retest.
3rd entry if price hits the 78% would take that short.
4th Entry would be at the lowest point, assuming that it will create another equal loq at the 50% of FU candle.
For more info, feedback, discussions, please feel free to dm me @kevinjzurc on Instagram.