On the Daily chart, price closed above the 40EMA indicating Change of character (ChoCh). The 4 hour chart clearly shows us that the bearish movement was a pull-back toward the zone that created a new HH and there is a H&S pattern! After the H&S breakout, the M15 price retraced to the zone that created a high which indicates ChoCh. Note before the M15demand zone there was equal lows (green arrows) which is liquidity, before a significant upward movement there liquidity was swept.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.