STARTING FROM TOP TO DOWN
- The current candlestick on the chart has a tail of rejection which respected a monthly trendline.
- Now on weekly, you can see a bearish engulfing candlestick parthern also formed with the last candlestick being a pull back of a bullish candlestick almost touching the monthly trendline.
- Finally ending with on the daily timeframe, the the trend broke through a an existing daily resistance zone and formed a bullish engulfing parthern at the top which gave bears strenght to push down to break though new support which was then a resistance.
So now we are waiting on a correction up then push down to continue the down trend.
Entries can be found on 4H time frames. To enter safely.
- The current candlestick on the chart has a tail of rejection which respected a monthly trendline.
- Now on weekly, you can see a bearish engulfing candlestick parthern also formed with the last candlestick being a pull back of a bullish candlestick almost touching the monthly trendline.
- Finally ending with on the daily timeframe, the the trend broke through a an existing daily resistance zone and formed a bullish engulfing parthern at the top which gave bears strenght to push down to break though new support which was then a resistance.
So now we are waiting on a correction up then push down to continue the down trend.
Entries can be found on 4H time frames. To enter safely.