Hello everyone
The price has formed a rising wedge pattern, breaking the support of the pattern, I expect a retracement to the 61.8 fibonacci level to position myself short to the -0.618 fibonacci level.
To confirm the movement I will wait for the price to show some reversal price candle pattern to confirm the downward movement.
The daily price structure is bullish, but this depletion pattern could indicate a price pullback before the next bullish momentum.
You can leave your opinion below, thanks
Trader Dark Eyes
Information about the chart:
White line: TF 1D
Yellow Line: TF 12H
Gray Line: TF 4H
Blue arrow: Possible projection
Horizontal white line: Supports and resistance
Red line: Channels and patterns
The price has formed a rising wedge pattern, breaking the support of the pattern, I expect a retracement to the 61.8 fibonacci level to position myself short to the -0.618 fibonacci level.
To confirm the movement I will wait for the price to show some reversal price candle pattern to confirm the downward movement.
The daily price structure is bullish, but this depletion pattern could indicate a price pullback before the next bullish momentum.
You can leave your opinion below, thanks
Trader Dark Eyes
Information about the chart:
White line: TF 1D
Yellow Line: TF 12H
Gray Line: TF 4H
Blue arrow: Possible projection
Horizontal white line: Supports and resistance
Red line: Channels and patterns
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.