This trade went through thanks to ECB. It was entered last Friday, but finally came through after a week. From a top down analysis, the bull is running out of steam for few reasons, which I'll explain in the next post.
This is a 4H analysis. There are THREE reasons to form the short bias:
1st is the PA reacts to the Monthly key level, which is critical for us to start consider the trade.
2nd is the candles form a tweezer top, and a evening star if combines 4 candles.
3rd is the Daily candles showing a reversal sign, retest the previous high, which is also the Monthly level
This is a 4H analysis. There are THREE reasons to form the short bias:
1st is the PA reacts to the Monthly key level, which is critical for us to start consider the trade.
2nd is the candles form a tweezer top, and a evening star if combines 4 candles.
3rd is the Daily candles showing a reversal sign, retest the previous high, which is also the Monthly level