Break out of uptrend

22 thg 8, 2020

We just saw price break out of a clear uptrend on the H4 chart ad currently pulling back to make a retest on the trend line which corresponds to the same level that price just broker out from. so we are going to be looking out for sell positions in the sell zone marked out

22 thg 8, 2020

Ghi chú

we can also see price forming a potential head and shoulder pattern on the H4 timeframe.

22 thg 8, 2020

Ghi chú

finally, we have to bear in mind that the overall market structure from the higher timeframes (W1 and D1) is still bullish, so we have to look out for candlestick formations around our sell zone to consolidate our position