Price was rejected at the major resistance
area and move to the downside impulsively!
The price bounced off a support level on the 4-hour time frame,
seems like it wants to retest the area that was broken down.
This will be the area to pay attention to,
as this could be potential head & shoulder pattern forming.
Looking for rejection at this level,
if not for the previous to retest the previous high for a SHORT entry!
area and move to the downside impulsively!
The price bounced off a support level on the 4-hour time frame,
seems like it wants to retest the area that was broken down.
This will be the area to pay attention to,
as this could be potential head & shoulder pattern forming.
Looking for rejection at this level,
if not for the previous to retest the previous high for a SHORT entry!