Three black crows.

Very bearish candlesticks formation!

Note

the more i observe formations played in BTCUSD (especially in case of small timeframes like 1h, 4h), they statistically give false signals.

like this double top formation:

Note

To play the above formation entry should be now @9300 with short position with target around 7000 but sl above 11800. Thats ridiculous risk/reward ratio. I start to think that stoplosses @ around 12000 will be soon activated by an unexpected wave.

Note

current situation - trend looks for now like bearish, but for me that double top formation is too risky to get short with so wide SL (@12000)

and longs for now, where there is no bull market for now are even much risky

Note

{image]

bearish engulfing candlesticks pattern weekly chart

Note

bulls are here in trouble

orminlange

Related publications

A told You so - beware!

by orminlange

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.