Trend: Bearish
chart pattern: Parallel channel downwards, creating LL and LH
candlesticks:
Pinbar at previous LH indicates weakness moving higher. Followed by bearish candlestick pushing lower.
Other TF:
indicators:
RSI follows downward trend
Conclusion:
Bear call spread at LH3 depending on net credit received and R/R
chart pattern: Parallel channel downwards, creating LL and LH
candlesticks:
Pinbar at previous LH indicates weakness moving higher. Followed by bearish candlestick pushing lower.
Other TF:
- monthly support has been breached and retested. On the daily we can see a pullback to the 38.2% Fibonacci retracement.
on the daily we can see a clear pinbar.
indicators:
RSI follows downward trend
Conclusion:
Bear call spread at LH3 depending on net credit received and R/R