Hey trader, I hope you had a fantastic weekend.
The daily price has closed with a bearish reversal candle pattern, getting ready to counter-trend to the 8 MA before continuing the uptrend we're in. The 4-hour price formed a double top that has its current price bearish running in the accumulation phase and in between the short-term MA's, confirming the daily timeframes bias. The 1-hour price is bearish running in the mini head and shoulder patterns accumulation phase, below its neckline, 50 MA, and bearish crossed short-term MA's. All that signals a bearish drop to the Daily H&S Neckline 2 where the daily timeframe target resides.
That's it for today. I hope you found value in this article; if you have a different concept in mind, feel free to share it in the comments section below, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
The daily price has closed with a bearish reversal candle pattern, getting ready to counter-trend to the 8 MA before continuing the uptrend we're in. The 4-hour price formed a double top that has its current price bearish running in the accumulation phase and in between the short-term MA's, confirming the daily timeframes bias. The 1-hour price is bearish running in the mini head and shoulder patterns accumulation phase, below its neckline, 50 MA, and bearish crossed short-term MA's. All that signals a bearish drop to the Daily H&S Neckline 2 where the daily timeframe target resides.
That's it for today. I hope you found value in this article; if you have a different concept in mind, feel free to share it in the comments section below, I'd love to know your thoughts!
Stay Blessed Baby,
Sphatrades.
