Head and Shoulders Formed on 1D after Bearish move,
signalling reversal if pattern completes.
Right Shoulder forming, CTS Score of 5 as follows:
RSI Divergence on 4HR - 1 CTS
Left Shoulder at Major Structure. (3+Tests on DAILY TF) - 2 CTS
Right Shoulder at Minor Structure. (3+Tests on 1HR TF) - 1 CTS
Strong Pivot point of 0.55000 present at head...
I used support and resistance on the 4HR timeframe to see where price could go next. My analysis shows that it may be bullish if it does bounce off of the support trend line. Plus I will be waiting for confirmation before I enter the trade. Let me know what you guys think.
This is my first time publishing a strategy so let me know what you think of my analysis, I used trend lines and zones to mark the support and resistance so I can have an idea where price could go on USD/CAD 1HR and 4HR time frame.