We have a monthly reversal, November was a downtrend with -138 pips.
We also see a double bottom/W formation AT THE P LINE
We have the reversal taking off FROM THE P LINE
On the Daily chart, we have a Bullish Pinbar
On the 4 hour chart presenting us with an engufing candle stick pattern
AFTER A RECENT WIN ON A LONG TRADE ON THIS PAIR, I BELIEVE IT IS NOW IN A SELL ZONE, AS YOU CAN SEE WE HAVE A VERY WELL RESPECTED SUPPLY/DEMAND ZONE HERE. I SEE A COMPLETED HEAD AND SHOULDERS PATTERN, ALONG WITH A GENERAL DOWNTREND ON A WEEKLY BASIS, BULLISH EXHAUSTION SEEMS TO BE OCCURRING AND PRICE ACTION SUGGESTS THAT A REVERSAL IS GOING TO HAPPEN. A INVERTED...
Burford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
The video shows a contracting wedge into a zone of congestion. This is sometimes a reversal pattern.
I make no predictions. I explain carefully about losses and risk management of this situation.
Disclaimer: This is not financial advice or an encouragement to trade in securities. No liabilities accepted. Your losses are your own. This means you sue yourself if...
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