TheSignalyst

CHINA50 Potential Bearish Movement - setup forming

Short
CURRENCYCOM:CN50   China A50
CHINA50 Potential Bearish Movement - setup forming

we are waiting for a momentum candle close below the last swing that touches the lower blue trendline to sell this one

Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Channel pattern (in blue)
3- Resistance / Supply zone from Daily


Three confluences are enough to consider Selling CHINA50, after a momentum candle close below the last swing touching the lower blue trendline (in gray)

*meanwhile, this pair is overall bullish until the sell setup is activated

This analysis is done using RichTL indicator
https://www.RichTL.com
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