As prices break the asymmetrical triangle, price tried to make a rebound from support but was met with an engulfing candle and the resistance. prices could go down even more in my opinion
a HNS right shoulder may be forming. a small lot size can be entered first. once prices have break the neckline, a normal lot size can then be further added.
prices are now on a support. with the formation of a asymmetrical triangle. we can wait for a clear confirmation of a support rebound or breakout to determine the price momentum. Take note that the bulls of the down trend have only touch the trendline twice, indicating that bulls are relatively weak.
In the recent days, prices have broke off the middle yellow zone and rebound, only to be pushed down again, as seen from the various wicks at the middle yellow zone. the previous day ended with the bearish candle nearly engulfing the previous bull candle. Additionally, there is an a support zone 50 to 60 pips down from the current price. a small short allocation...
