Different charts show different price action, like my MT4 broker's charts and TradingView's charts. Anywho, on my MT4 broker's chart, I see a bearish pinbar
rejection on both the daily and the weekly timeframe
. It looks like the pair is in the process of forming a head and shoulder, but I can't know for sure until the price actually breaks the neckline. Overall, I think right now is a great opportunity to short because there is a high probability of the HNS forming and playing out due to the second pivot
line being lower than the first pivot
neckline (the neckline is downward sloping). This is a low risk, high reward trade setup.
Hope you like my post!