Hey trader.
As you can see the price is currently running in the double tops L1 and below the 50 and bearish crossed short-term MAs.
It is preparing to drop for the patterns L2 and L3 together for the 200 MA (that's visible on the MT4 chart). But the price will confirm that once it has bullishly spiked the Mini Daily H&S Neckline with a bearish candle close below the key level, 50 and 8 MAs (again). That will confirm both trade's biases.
However, if the price rallies to break and retest the 1st 4H Key Lvl and 21 MA, that will reject these trade ideas. With that in mind, DO NOT TAKE THE TRADES, because this isn't financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I don't mind you doing that - I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you have questions or would like to see more content like this one, check the listed articles below then hit the like button and drop your question. ;)
Trade Safe,
Sphatrades.
As you can see the price is currently running in the double tops L1 and below the 50 and bearish crossed short-term MAs.
It is preparing to drop for the patterns L2 and L3 together for the 200 MA (that's visible on the MT4 chart). But the price will confirm that once it has bullishly spiked the Mini Daily H&S Neckline with a bearish candle close below the key level, 50 and 8 MAs (again). That will confirm both trade's biases.
However, if the price rallies to break and retest the 1st 4H Key Lvl and 21 MA, that will reject these trade ideas. With that in mind, DO NOT TAKE THE TRADES, because this isn't financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I don't mind you doing that - I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you have questions or would like to see more content like this one, check the listed articles below then hit the like button and drop your question. ;)
Trade Safe,
Sphatrades.
