Hey trader,
As you can see the price is currently bullish running above the head and shoulder patterns accumulation phase resistant, and above the 50 and bullish crossed short-term MAs.
It is preparing to rally for the patterns 3-level trend that will likely end on the 200 MA (that's visible on the MT4 chart). This bias has been confirmed by the bullish break and retest of the 2nd 4H Key Lvl together with the 50 and bullish crossed short-term MAs. However, this signal will be rejected once the price has bearishly broken and retested the 1st 4H Key Lvl together with the 50 and 21 MAs.
With that in mind, take the trade at your own risk. This is not financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you want to see more hit the like and follow buttons, then check the linked articles below.
Trade Safe,
Sphatrades.
As you can see the price is currently bullish running above the head and shoulder patterns accumulation phase resistant, and above the 50 and bullish crossed short-term MAs.
It is preparing to rally for the patterns 3-level trend that will likely end on the 200 MA (that's visible on the MT4 chart). This bias has been confirmed by the bullish break and retest of the 2nd 4H Key Lvl together with the 50 and bullish crossed short-term MAs. However, this signal will be rejected once the price has bearishly broken and retested the 1st 4H Key Lvl together with the 50 and 21 MAs.
With that in mind, take the trade at your own risk. This is not financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you want to see more hit the like and follow buttons, then check the linked articles below.
Trade Safe,
Sphatrades.
