As I've been posting recently, I've been leaning towards a buying position. However, looking at the movement over the past two months, it seems like I'm changing my mind.
The reasons are: - zigzag correction formed over the past two weeks (check my previous post) - the rapid upward impulse doesn't seem natural to me; I suspect it might be a trap for the last wave (Wave C, yellow color ABC on the chart) - an unclosed price gap below (check my previous post) - we can see a head and shoulders pattern on the H4 chart
However, we need to wait for a few confirmation signals for the trend reversal. I've provided a signal on the chart with confirmation from the smallest timeframe (most aggressive).
Feel free to write in the comments if you have any other ideas. Good luck!
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