There appears to be a double top formation on the H4 with the possibilities of a bearish channel to the downside to my expected support zones (white horizontal lines) on the previous weeks the marked seemed to make a type of triangle pattern (in my view a symmetrical triangle) followed by a bearish engulfing, I see price retesting that support and making a move to the downside as on the current daily candlestick price appears to be rejected from becoming bullish as of writing the idea. Possible confirmations for the movement may be the position where today’s candlestick closes and tomorrow’s daily candlestick
@dtjdydbtcg I’m waiting for a confirmation from Saturday’s and Sunday’s daily candlestick to close to show my momentum but at the moment it appears bearish as an indecision candlestick has formed on the daily candlestick as the resistance level is strong in my opinion
dtjdydbtcg
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@Sandyman_Js so bearish for the upcoming week right ?
Sandyman_Js
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@dtjdydbtcg if it breaks the 0.8000 zone then price will be bullish for the week though if price gets rejected on the 0.8000 zone then price will be bearish for the week
Sandyman_Js
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@dtjdydbtcg I should be curtain after today’s candlestick where price moves