Pattern: Inverted Head & Shoulders -Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level. -Looking at the next 3 months might be LONG til pattern's completed.
Weekly TF perspective
- My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level. - Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area. - .8350 is in confluence with the weekly key level
Bias: -Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up. -Looking at the next 3 months might be LONG til pattern's completed.