Hey community! Hope you are doing well! Let's have a look on GA today.
Early I didn't make any posts about this currency pair but now I noticed very nice setup.
GA 4H timeframe. Everybody can see H&S pattern and also double top formation (bigger picture). Then the price heavily broke the level of support and now became the resistance which you can clearly see on the picture. That level was very strong, the price 4 times! try to break that level but didn't.
So what do we have now?
After the last time when price try to break that level - we got a huge impulse to the downside and we already broke our MA50 on 4H timeframe as well! SO from this point I can see that this space is open for the price to reach my target at 1.7700. Of course we can get a little pullback to retest that level of 1.8050 and MA50. Target is 1.7700! Cheers.
Early I didn't make any posts about this currency pair but now I noticed very nice setup.
GA 4H timeframe. Everybody can see H&S pattern and also double top formation (bigger picture). Then the price heavily broke the level of support and now became the resistance which you can clearly see on the picture. That level was very strong, the price 4 times! try to break that level but didn't.
So what do we have now?
After the last time when price try to break that level - we got a huge impulse to the downside and we already broke our MA50 on 4H timeframe as well! SO from this point I can see that this space is open for the price to reach my target at 1.7700. Of course we can get a little pullback to retest that level of 1.8050 and MA50. Target is 1.7700! Cheers.