Yes, both trendlines are pointed at different directions but you can see how similar it can be based on my analysis.
First, we have to register the fact that the trend on the 4-hourly chart is still bearish and the market is within the sell zone. I am waiting for a shorting opportunity.
So a bearish engulfing might just set up well for me to engage a short trade. If that didn't happen, I would just need a break and close below the bullish trendline on the left, a break and close below the trendline will set off a short position.
First, we have to register the fact that the trend on the 4-hourly chart is still bearish and the market is within the sell zone. I am waiting for a shorting opportunity.
So a bearish engulfing might just set up well for me to engage a short trade. If that didn't happen, I would just need a break and close below the bullish trendline on the left, a break and close below the trendline will set off a short position.
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.