A HEAD N SHOULDERS SETUP RECENTLY FORMED INDICATING THAT 2020 WON' T BE AN EXCEPTION AND PRICE MAY DROP HARD. RETESTING DECEMBER LOW AT 6435 IS POSSIBLE, AND A POSSIBLE REVERSAL MIGHT OCCUR TAKING US BACK TO 7300, IF ALL OF THIS HAPPEN, WAIT FOR A BREAKOUT BACK TO 7300, 7350 AND OPEN SHORT POSITION. REMEMBER THAT A PURGE IS NEEDED TO FETCH THAT HEAVY VOLUME.
HOWEVER, WITH VOLUME CONTINUALLY DECREASING PRICE MAY NOT RECOVER ANYTIME SOON, SO YOU COULD OPEN SHORT POSITION WHEN IT SPIKES ON A FULL 1 CANDLE EXACTLY THE SAME AS WHEN IT SPIKED TO 7320 ON 1H COMPLETE CANDLE.
THANKS FOR READING AND DO YOUR OWN ANALYSIS.
HOWEVER, WITH VOLUME CONTINUALLY DECREASING PRICE MAY NOT RECOVER ANYTIME SOON, SO YOU COULD OPEN SHORT POSITION WHEN IT SPIKES ON A FULL 1 CANDLE EXACTLY THE SAME AS WHEN IT SPIKED TO 7320 ON 1H COMPLETE CANDLE.
THANKS FOR READING AND DO YOUR OWN ANALYSIS.