Price this week has formed a potential head on shoulders pattern after failing to break the supply zone, which lead to a sell off today. Price broke through the neckline, & a retest of the previous support as resistance on the lower timeframe I am anticipating for price to resume lower again as the overall trend is still in a downtrend making lower lows & highs.
Kommentar:
Daily: 3 days of candlestick reactions off the higher timeframe supply zone, along with a Doji candle forming yesterday & leading with a bearish engulfing candle today, showing potential momentum shifting once again
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