Hello everybody, I want to share this with you!
-On a 4-hour time frame, we can see that the price formed a solid head and shoulders pattern, head and shoulders pattern is very solid confirmation to take a short position(sell).
-On a lower time frame such as a 1-hour time frame, we can see that the price tested multiple times neckline(blue line) and then rejected and started moving in a bearish direction.
-We can also see that the price is still above 50 periods moving average and if add 8 periods moving average(EMA) you will be able to see that the price tested that moving average and went in a bearish direction.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour time frame, we can see that the price formed a solid head and shoulders pattern, head and shoulders pattern is very solid confirmation to take a short position(sell).
-On a lower time frame such as a 1-hour time frame, we can see that the price tested multiple times neckline(blue line) and then rejected and started moving in a bearish direction.
-We can also see that the price is still above 50 periods moving average and if add 8 periods moving average(EMA) you will be able to see that the price tested that moving average and went in a bearish direction.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
Comment:
I expect bearish movement at least, until the price reaches a yellow area...-But that is just my opinion!
Comment:
I wrote that the price is under 50 periods EMA instead above 50 periods... Sorry for that😊
The price is under 50 periods EMA
The price is under 50 periods EMA
Comment:
The price is UNDER 50 periods EMA