What's up Traders!
After a long bearish sentiment, we have finally got our bullish impulse. Price reached a potential weekly inverse head and shoulders neck with price action supported by a huge volume. This simply shows that the big boys are interested in this level. Weekly Inverse head and shoulder pattern indicates the potential start of a bullish trend so our bias is bullish. Moreover, if we close above 0.1367 we also get weekly Higher High and a new weekly bullish trend confirmation.
If bears hold the level, we could see some correction to near-term support(0.11) that is also a round psychological number. This is where bulls could attack again causing market to test that weekly inverse head and shoulder neck.
What are your thoughts on the current market?
Enjoy the ride!
Follow Prosperous Traders
After a long bearish sentiment, we have finally got our bullish impulse. Price reached a potential weekly inverse head and shoulders neck with price action supported by a huge volume. This simply shows that the big boys are interested in this level. Weekly Inverse head and shoulder pattern indicates the potential start of a bullish trend so our bias is bullish. Moreover, if we close above 0.1367 we also get weekly Higher High and a new weekly bullish trend confirmation.
If bears hold the level, we could see some correction to near-term support(0.11) that is also a round psychological number. This is where bulls could attack again causing market to test that weekly inverse head and shoulder neck.
What are your thoughts on the current market?
Enjoy the ride!
Follow Prosperous Traders
