a potential sell opportunity as price is in a descending triangle.
looking for sells at around the 0.618/0.786 fib levels.
this will be backed up by price action; bearish engulfing, tweezer tops , shooting star and so on.
TP has been set as a strong level on support that price has retested multiple times.
if price does reject the trendline look to scale in for more sell opportunities on the way down.
on the other hand price could break the trend line, come down to retest it and shoot up.
use fundamentals as a confluence.
looking for sells at around the 0.618/0.786 fib levels.
this will be backed up by price action; bearish engulfing, tweezer tops , shooting star and so on.
TP has been set as a strong level on support that price has retested multiple times.
if price does reject the trendline look to scale in for more sell opportunities on the way down.
on the other hand price could break the trend line, come down to retest it and shoot up.
use fundamentals as a confluence.
Comment:
so price has reached the trendline and we are now looking for price action..... will the trendline hold. or will it break and continue on its bullish run....