Probable: My views on this pair is that we are going to see a continuation of the Bearish trend we have been having on the Daily and Weekly timeframe (Well that's if the market holds the breakout of the zone where the LH of the bullish trend is).
Possible: If the market cannot hold the breakout then I will be looking for the market to reconfirm the LH zone...
Probable: There is a high probability of the the market continuing bearish as we have a Head & Shoulder, Bearish Flag and the market Broke the HL and retested it (the grey zone). Then the market broke the bearish flag support and it had come from retesting the BOS before closing Friday.
On the daily you can see that we are in a bearish trend below:
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Probable: We are looking to go bullish on UJ as the market is in a very strong bullish trend. Currently waiting for a pullback to around either 139.162 or 138.087
Possible: The market could continue with the impulse movement before giving a pullback or some market exhaustion.
Confirmations:
1. We have a head and shoulder pattern that formed at the top of my bullish channel from 4h and Bearish channel from the DAILY timeframe.
2. The market broke our previous Higher Low structure and the head and shoulder neckline.
What to do:
If the market retests the head and shoulder neckline then we take can take an early sell. OR we can wait for...
