FCPO TRADING : 94) POSSIBLE FORMATION OF "HEAD"
hi, this is trade 94) frm haidojo trading...ok, this is not the common head in "head-and-shoulder" pattern...but it is the "head" in a trend...
at least temporary reversal of trend...but in order to confirm a reversal, it has to form some kinda gap down...or hovering in tight range for at least another day...another thing is, 2 things happened today...1) the resistance 2691 is hit today (yes, look at the pinbar)
2) support region, 2626-2630 is tested today...
in order to reverse the bearish sign, the resistance 2690 has to be broken to confirm the continuation of uptrend...
higher resistance : 2690-2700
current support : 2625-2630...
lower support : 2565-2575
critical support : 2517 -2520
market might have come to a resistance level and likely to have reversed...
PS : I forget to put in the chart, thr is a bearish divergence in the chart...sori...
WARNING : this is juz a trading idea...trade at your own risk!
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