You can see that we are currently sitting around a major Sell region.
We have received a Double Top formation.
We have received a solid Bearish candle.
We have received a Monthly -68 Fib completion.
These are all nice indications for a possible short set-up.
We have received a Double Top formation.
We have received a solid Bearish candle.
We have received a Monthly -68 Fib completion.
These are all nice indications for a possible short set-up.
Note
We were moving in an ascending channel, making HHs and HLs. We broke the ascending channel and the last HL.
We have received a solid bearish candle.
This was all indication for a short set-up.
Note
On the Daily chart we are also in a downtrend as we broke the ascending channel/Last HL.We have received a bearish impulse as indication.
We do expect a confirmation in the form of a Natural W pattern.
Clear Supply & Demand zone sitting at the region of interest (100.00 Fib).
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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.
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.