This is very subjective, and I am not good with these analyses...
It seems like a Rising Wedge in an uptrend has established (though some might see a Cup and Handle).
Also there is a strong bearish pinbar candle, that has shown the sellers are winning.
The momentum is looking weak and we could very well expect a reversal from here.
I would only short though if the price breaks below the pattern.
It seems like a Rising Wedge in an uptrend has established (though some might see a Cup and Handle).
Also there is a strong bearish pinbar candle, that has shown the sellers are winning.
The momentum is looking weak and we could very well expect a reversal from here.
I would only short though if the price breaks below the pattern.
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Timon Rossolimos
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www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)