Allowing a move down here completes an M pattern on the larger overall chart structure.
This also in the process creates a little down channel which coincides with the double top.
Bearish 4Hr chart.
This also in the process creates a little down channel which coincides with the double top.
Bearish 4Hr chart.
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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.