Daily: downtrend 1) price has just hit an ongoing downtrend resistance line 2) 62 period EMA acting as a dynamic resistance line 3) Stochastic indicator currently in overbought conditions
4-hour chart: 1) double top formed during uptrend. Reversal signal so next move is down. 2) 3 black crows bearish candle formed 3) 5 period EMA currently pointing down, and stochastic indicator has left overbought conditions with strong selling momentum
Lovely analysis! If price breaks the trend line are you changing your bias?
UnknownUnicorn1087693
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@khaim, Depending on the strength of the breakout, but unlikley I would change my bias. Good supporting evidence for the continuation! God speed fellow trader!