Selling pressure might be exhausted except volume did not decrease noticeably when the middle peak was formed.
Bear Trap setting up.
Closing above the middle peak on heavy volume will confirm the reversal.
50% retracement
Watch out for price continuing in consolidation, hinting trend will continue lower
Bear Trap setting up.
Closing above the middle peak on heavy volume will confirm the reversal.
50% retracement
Watch out for price continuing in consolidation, hinting trend will continue lower