Price has been in a bearish trajectory for the past 2 months.
According to the rules of the trend, price has completed a Lower Low.
Weekly chart shows a clear cut Pin Bar candlestick! This is a reversal candlestick pattern.
Zooming into the H4 timeframe, price closed with an engulfing candlestick resting on the 1.08612 resistance level.
I spotted a new channel within the H1.
Let's see how this plays out.
According to the rules of the trend, price has completed a Lower Low.
Weekly chart shows a clear cut Pin Bar candlestick! This is a reversal candlestick pattern.
Zooming into the H4 timeframe, price closed with an engulfing candlestick resting on the 1.08612 resistance level.
I spotted a new channel within the H1.
Let's see how this plays out.