skrimon
Active Member
HELLO TRADERS
It seems like on a weekly timeframe this pair reached a resistance or supply zone (LOWER HIGH) and to back this up with top down analysis on a daily timeframe , the market formed a head and shoulders chart pattern which is a reversal chart pattern.
Moving on to the 4 Hour timeframe the market broke the neckline, probably confirming the new direction of the market.
Before any sell orders the market has to go through a correction phase to release buyers that are still in the market.
On the 1 Hour timeframe, traders should be vigilant for reversal candlestick pattern, chart pattern or Fibonacci retracement for entries......
