time 1h
In this timeframe we have a head and shoulders pattern.
We expect to have an upward movement with the breaking of the resistance, except for the continuation of the falling movement from the higher levels, because the price trend is falling at the higher time.
Price Action Training
Cap pattern
1. The price goes up with a strong momentum.
2. After the traders save some profit, the price goes back a little and forms a base.
3. Then the price goes up again and forms a rally.
4. The fourth stage is the base price.
5. Here the price has a rapid and rapid fall.
The important thing to note is that the first base should be engolfed.
The trend in daily time is completely downward.
The price is currently forming a compression and pattern of the flag that after the formation of the pattern and failure, we can enter the sales position in Behalgo pullback and expect the target to fall as much as the flag or bar of the flag.
The dominant downtrend is formed and a pattern that, given that we currently have evidence of upward failure, we are likely to move up to the price range of 134.30 -142.50 and then continue the downward trend.
The price is between two zones of the weekly time frame and there is a state of suffering until one of these zones is broken.
And as long as the price is suffering, in lower times, suitable opportunities can be bought and found.
Timeframe H1
The price range between 0.94186 and 0.93935 can be a good place to enter the sell position.
Another factor that makes this scenario stronger is the presence of a daily time frame resistance zone.
