The price is currently trading within a 4H Channel Down (RSI = 43.283, MACD = -41.400, Highs/Lows = -28.0287). Yesterday's inability however to make a full Lower High near 4,100 has created a Falling Wedge within the Channel Down that is narrowing down towards a 3,645.00 target.
If we do however consider 4,034 as the Lower High, then it may follow the pattern's candle sequence that indicates a Lower Low around -12.50% from the High. This suggests a full distance sell TP = 3,530.
Always keep in mind that we are approaching the long term bottom.
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If we do however consider 4,034 as the Lower High, then it may follow the pattern's candle sequence that indicates a Lower Low around -12.50% from the High. This suggests a full distance sell TP = 3,530.
Always keep in mind that we are approaching the long term bottom.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
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Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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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.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Related publications
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.