Hey, this is some knowledge I learnt from the expert.
I'm using fibo line to get price pattern range area (reversal / continuous), I find out that the price is on reversal range. H1 shows there's a reversal pattern ( Double Top ) at SNR and already make its neck. The price done breaking the neck line, and undergoes pullback.
But, if the price react with the parallel channel , price may change to flag pattern as the price will continue upward.
Current market trend is downtrend.
I'm using fibo line to get price pattern range area (reversal / continuous), I find out that the price is on reversal range. H1 shows there's a reversal pattern ( Double Top ) at SNR and already make its neck. The price done breaking the neck line, and undergoes pullback.
But, if the price react with the parallel channel , price may change to flag pattern as the price will continue upward.
Current market trend is downtrend.
Comment:
Double Top failed as the price break SNR line, else price will moving upward and getting a entry for long.