My analysis is simple, as you can see on my chart, a double top pattern has been formed on the H1 time frame, which means there is a trend reversal from uptrend to downtrend.
Note: This is just an idea from me, please compare it with your own analysis before opening a position. Thank you.
Note: This is just an idea from me, please compare it with your own analysis before opening a position. Thank you.
Note
The main movement on the weekly time frame, looks like it has passed the retrace phase at 61.8% Fibonacci Retracement (Golden Ratio), and then it is moving down now.
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Disclaimer
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.