Monthly:
- Nice Monthly S&D zone that is holding very nicely
- Passed three months we wicked the zone
==> Now we approached the zone with an Inv H&S (which is not valid for my trading plan to trade so I 'ignore' it)
Weekly:
- IC holding down the price
- Bearish Indicational Candle
==> We have broken the first zone of resistance and getting to the second one now
Daily:
- We can see more clearly wat happened on the Weekly
- We were under that Resistance zone and broke it impulsively
==> It would be normal if price came back to it 'to take it's breath'
- Break the new Resistance zone with a new Daily Pattern
==> Inv H&S pattern with wicks in the head
4H:
- Double Top (Sign of reversal)
- H&S Pattern is what I want to see
==> I'll take it to the Daily Inv H&S Pattern
The reason that I think that this setup could play out:
DXY:
- We are breaking a new Monthly zone
- But if we look at the Daily, it is very impulsive and without a clear pattern
==> Could make some relief to the Daily ZOI to form a Bullish M Pattern
- Passed three months we wicked the zone
==> Now we approached the zone with an Inv H&S (which is not valid for my trading plan to trade so I 'ignore' it)
Weekly:
- Bearish Indicational Candle
==> We have broken the first zone of resistance and getting to the second one now
Daily:
- We were under that Resistance zone and broke it impulsively
==> It would be normal if price came back to it 'to take it's breath'
- Break the new Resistance zone with a new Daily Pattern
==> Inv H&S pattern with wicks in the head
4H:
- H&S Pattern is what I want to see
==> I'll take it to the Daily Inv H&S Pattern
The reason that I think that this setup could play out:
DXY:
- But if we look at the Daily, it is very impulsive and without a clear pattern
==> Could make some relief to the Daily ZOI to form a Bullish M Pattern