There is a chance that price could continue bullish from here, BUT I can NOT ignore the fact that there is a weekly head and shoulder possibly printing. Which will send price bearish for quite a bit.
On top of that, price has not really broken this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB.
So I am setting alerts and watching price to see which way it wants to go.
On top of that, price has not really broken this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB.
So I am setting alerts and watching price to see which way it wants to go.
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This head and shoulder is still playing out on the weekly. I finally caught the entry this week and am holding over the weekend. Caught a few losses as well trying to enter on the 5m, BUT that 4H entry has held since I got in it. Gotta love the higher timeframe entries!!
4H chart:
W chart:
4H chart:
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Price is pulling back, BUT that drop has been SWEET!! Held for 8 Days 2m with trailing on the 4H
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Sell idea is still active and running
