Still looking forward to see the development of new Bearish Reversal Structures.
The Price action seems to be developing some sort of a Descending Channel which we are not sure yet since it's not yet confirmed. However this can be some good signs to signal bullish momentum.
Remember earlier we anticipated an impulse to the upside due to the Descending Channel we indicated, hence we were expecting to see price to break above the Descending channel impulsively follwed by continuity correction to look for a Buy entry, But instead price shot to the downside impulsively even out of the HTF Correction Structure. Therefore for price to really confirm to us that it has Violated our analysis, price has to show continuity correction to confirm the change of direction.
But now we can see that price is correcting in a falling manner instead of rising, hence this becomes a reversal correction not the continuity correction.
The Price action seems to be developing some sort of a Descending Channel which we are not sure yet since it's not yet confirmed. However this can be some good signs to signal bullish momentum.
Remember earlier we anticipated an impulse to the upside due to the Descending Channel we indicated, hence we were expecting to see price to break above the Descending channel impulsively follwed by continuity correction to look for a Buy entry, But instead price shot to the downside impulsively even out of the HTF Correction Structure. Therefore for price to really confirm to us that it has Violated our analysis, price has to show continuity correction to confirm the change of direction.
But now we can see that price is correcting in a falling manner instead of rising, hence this becomes a reversal correction not the continuity correction.