On the daily timeframe, price reversed from a weekly resistance (also neckline of higher timeframe H&S pattern) that lined up with the 3rd rejection of descending trend line and broke out of an ascending trendline.
Currently, the price is making a pullback to retest the broken ascending trend line which also lined up with minor resistance zone, 50.0 Fib ratio, and moving averages.
Once price reached and reversed from our confluence level, we will able to go short on this pair after a proper breakout of our Counter Trend Line (CTL).
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Thanks for reading!
Currently, the price is making a pullback to retest the broken ascending trend line which also lined up with minor resistance zone, 50.0 Fib ratio, and moving averages.
Once price reached and reversed from our confluence level, we will able to go short on this pair after a proper breakout of our Counter Trend Line (CTL).
Kindly follow me on Instagram @TheKissForex.
Thanks for reading!
Trade closed: target reached:
Target reached!