could we see a morning star formation formed before the end of the year.
as we can see my 61.8% fib lines up with a nice level of rejection and just above this is my monthly resistance.
on the lower time frames we have already seen father indications that we should sell (1w and 1d time frames.
however the movements towards the end of the year...
here we have reach the top pf the Bollinger bands which also lines up with the 61.8% on my fib
also on the lower time frame 4H I have identified a morning star which indicates bearish movement.
Stop loss -151.500
Take profit -146.000
we have reached the 61.80% on our fib
monthly resistance is close to this level also around this level we have seen previous rejection.
this week we will most likely looking to be finishing with a doji or a bearish candle.
with this if we get another bearish candle for next week we will have formed a morning star which indicates a sell.
with all these...
here i have a fib point c has been created at 61.8% which is also my monthly resistance (i need to update my labels for my resistance and support)
the last 3 candle sticks form a morning star which indicates a sell, however my weekly support needs to be broken. then we can see 112.000 for target 1 and 110.000 for target 2
here i have noticed we are in a defending trend.
i have used a fib a recently D1 has been achieved.
the latest daily candle stick is a shooting star so i believe we have the potential to even lover and reach D2 (-61.8%)
however my weekly support will need to be broken for this to be achieved.
my first target is 124.200
here i have a fib, we can see we have created a c point at the 61.8%
rejection off monthly support
M.A's have crossed over on the 4h and 1h time frames
candle stick formations also indicate a short.
if we brake 73.000 we could see point d (-27% on fib) being reached