Head and shouldern and parallel channel pattern
Looks like, we are about to see a longer correction than expected. The run-up was huge which started back in March, it seems the market needs to let off some steam.
If you look at the daily chart, you will recognize 2 famous trading patterns.
"Head and Shoulder" and "Parallel Channel"
Both of them broke last Friday, we even had a backtest on the 4 hourly charts.
Our next support zone is between the S2 Pivot Point and 38.2% Fib retracement.
If you look at the daily chart, you will recognize 2 famous trading patterns.
"Head and Shoulder" and "Parallel Channel"
Both of them broke last Friday, we even had a backtest on the 4 hourly charts.
Our next support zone is between the S2 Pivot Point and 38.2% Fib retracement.
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