H4 - Price has bounced from the top of a bearish channel. Bearish divergence.
Price still has room lower towards the bottom of this channel.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to continue lower further in the short term.
Price still has room lower towards the bottom of this channel.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to continue lower further in the short term.
Note
The price respected the strong resistance zone and moved lower exactly as I expected it to, providing an excellent move to the downside!
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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.