After pice failed to make a higher high, price has broken below support.
Confirmation 1 was a significant Pinbar close. As this is a higher timeframe setup, we will likely see a second confirmation, for example a bearish engulfing candle close, or a significant Pinbar, at resistance.
Resistance also correlates with a 50% fib retracement.
Confirmation 1 was a significant Pinbar close. As this is a higher timeframe setup, we will likely see a second confirmation, for example a bearish engulfing candle close, or a significant Pinbar, at resistance.
Resistance also correlates with a 50% fib retracement.