Price shows a previously played out double top and all we're looking for here is a small retest trade of the neckline area. If we get get another bounce of our intraday trendline, we can enter a small long position. 🙏🏻
Pretty obvious what’s in front of us at this point. The question is, will it break downward and blow out the previous support in this area or shoot back up and break out of this channel as well? I’ll be waiting until we have an obvious sign of breakout to avoid any bull/bear traps. What’re your thoughts on its direction?
It’s been a very common pattern in other pairs when other markets turn on the for the day we see extreme bearish or bullish candles sending it into a nose dive or shooting to the moon only to reverse once it’s completed this U shape. This is my prediction for how this will go today after brainstorming with the chat this morning. If it breaks both of the previous...