The hour chart shows a consolidation and rejection period between the 77400-77600s and in a lower 30M time frame, we see multiple bearish engulfing after a constant 3 bar up play and it gets eaten up with 1 candlestick. Sellers showing control, expecting it to touch the bottom of this downward support at 74000 before a possible break or bounce back to next resistance area.
Note
Much momentum to the downside as expected. if it breaks below the 77000s another short position may be placed to aim for 0.76000
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.
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.