Similarly to what i spotted on the EURUSD; BCH seems to have formed a 3 Black Crows on the weekly after catching some sells at a previous zone of Support/Resistance.
It has also reached the Measured Move of a bullish diamond breakout and i have taken my profits.
This could be the start of a new downtrend which could take us down to Fibonacci retracement levels or lower.
I would be very interested in seeing some bullish signals on BCH at the 0.786 and 0.886 retrace levels until that happens or resistance is broken i'm likely to remain bearish.
It has also reached the Measured Move of a bullish diamond breakout and i have taken my profits.
This could be the start of a new downtrend which could take us down to Fibonacci retracement levels or lower.
I would be very interested in seeing some bullish signals on BCH at the 0.786 and 0.886 retrace levels until that happens or resistance is broken i'm likely to remain bearish.
Trade active:
Short Entry Placed:
Trade closed: stop reached
