Hi Traders!
The market was in an Uptrend, but it is now turning into a Downtrend.
As you can see we here have a bullish Parallel Channel.
The lower side of the Parallel Channel is also a daily Trendline.
This Trendline just got broken.
Now the market pulled back after the Breakout.
Beside the breakout, something important occurs too:
The lower low.
Now, the market is in a Pullback and if you consider the last top as a High, then it is a Lower High.
A possible entry would be the Break of the dashed Trendline.
Thanks and successful Trading :-)!
The market was in an Uptrend, but it is now turning into a Downtrend.
As you can see we here have a bullish Parallel Channel.
The lower side of the Parallel Channel is also a daily Trendline.
This Trendline just got broken.
Now the market pulled back after the Breakout.
Beside the breakout, something important occurs too:
The lower low.
Now, the market is in a Pullback and if you consider the last top as a High, then it is a Lower High.
A possible entry would be the Break of the dashed Trendline.
Thanks and successful Trading :-)!
Note
Here is another confirmation for the bearish Movement:We have a MACD Divergence!
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.
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.