Here you see 2 trendlines. The most important aspect is if price would break one of them.
If it breaks the falling trendline up, then price would go up to C zone just i need to be carefull about fakeouts at Level B.
If it breaks the rising trendline down, then price would go down to A zone.
Either way the pattern is valid till now. Let's see what is gonna happen
If it breaks the falling trendline up, then price would go up to C zone just i need to be carefull about fakeouts at Level B.
If it breaks the rising trendline down, then price would go down to A zone.
Either way the pattern is valid till now. Let's see what is gonna happen
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As i told you earlier about B level, we now see a fakeout at level B, also bearish engulfing has just appeared at that level. These findings make price to reach level A "final target" slightly possible. Strong rejection from B is important and we can say that ithis rejection created a higher low and down trend continuation pattern. If it creates a new lower low below point C, reaching the point A would even be stronger aspect and it would confirm the down trend. So at this level There are two points really watch carefully, The C level and the A To C uptrend. If AC uptrend breaks down the possibilty to breaking of level C to down to point A would be even more possible. Lets watch..
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C zone is high probability target..
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Retest of b zone.. Could be a long opportunity again..