Price is currently losing momentum in its tight, bullish trend (forming a bull shooting star candle) that completes the final triangle for our inverse head and shoulder pattern.
Multiple wicks have rejected the neckline, including the current bull candlestick. This suggests bulls are losing momentum and bears are slowly taking control.
However, if bulls break the neckline we shall be looking to go long after confirming it is not a false breakout.
Don't forget to use shorter timeframes to get a more introspective look of the market throughout the day. Especially as this is a D1 chart.
Multiple wicks have rejected the neckline, including the current bull candlestick. This suggests bulls are losing momentum and bears are slowly taking control.
However, if bulls break the neckline we shall be looking to go long after confirming it is not a false breakout.
Don't forget to use shorter timeframes to get a more introspective look of the market throughout the day. Especially as this is a D1 chart.