Really, you can see this trend transition pattern even on the 4 hour and the daily chart but 8 hour looks the best.
Head and Shoulders is visible and occurred at a long term support level. We have had a long downtrend too and we did stop making lower lows. We made our first higher low indicated by the right shoulder. We had a nice strong break on the neckline too.
108.60 zone is an area to watch for reaction and taking profits.
Head and Shoulders is visible and occurred at a long term support level. We have had a long downtrend too and we did stop making lower lows. We made our first higher low indicated by the right shoulder. We had a nice strong break on the neckline too.
108.60 zone is an area to watch for reaction and taking profits.
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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.