We are currently bearish on 4h MACD and 15m MACD, and bullish on 1h MACD which is slightly turning bearish.
Price is on a parallel down channel with a short term wedge (blue / green) which possibly will break down. A strong break up may signal trend change or it may simply be a bull-trap which we encounter a lot.
Down border of wedge slightly matches with 100 MA on 1h chart and upper border of wedge closely macthes with 200 MA and plot line of FBB on 15m charts.
As always, this is not an investment advice.
Kindly press like if you would like to see more.
Price is on a parallel down channel with a short term wedge (blue / green) which possibly will break down. A strong break up may signal trend change or it may simply be a bull-trap which we encounter a lot.
Down border of wedge slightly matches with 100 MA on 1h chart and upper border of wedge closely macthes with 200 MA and plot line of FBB on 15m charts.
As always, this is not an investment advice.
Kindly press like if you would like to see more.
Trade active:
And it has broken downwards as I predicted....
Trade closed: target reached:
Well, it seems I commented a little bit early, we are still not out but precisely following the down border of the wedge.