Pattern: Descending Wedge (Bullish Potential)
Major Resistance: Strong bearish pressure at key resistance level
Volume Analysis: Weak buying volume on recovery, strong selling volume earlier
Market Sentiment: Mixed with a slight bearish bias
Technical Indicator Probability
RSI: Neutral to Bearish (48.57) → 55% Bearish / 45% Bullish
ADX & DMI: Weak trend, bears slightly stronger → 58% Bearish / 42% Bullish
Bollinger Bands: Price at resistance zone → 60% Bearish / 40% Bullish
Moving Averages: Price struggling below key levels → 57% Bearish / 43% Bullish
Overall Probability Estimate
Bearish Continuation Probability: 60%
Bullish Breakout Probability: 40%
Conclusion
Slightly Bearish Bias unless confirmed breakout occurs.
Traders should wait for trend confirmation before entering positions.
A breakout or rejection at resistance will define the next major move.
Major Resistance: Strong bearish pressure at key resistance level
Volume Analysis: Weak buying volume on recovery, strong selling volume earlier
Market Sentiment: Mixed with a slight bearish bias
Technical Indicator Probability
RSI: Neutral to Bearish (48.57) → 55% Bearish / 45% Bullish
ADX & DMI: Weak trend, bears slightly stronger → 58% Bearish / 42% Bullish
Bollinger Bands: Price at resistance zone → 60% Bearish / 40% Bullish
Moving Averages: Price struggling below key levels → 57% Bearish / 43% Bullish
Overall Probability Estimate
Bearish Continuation Probability: 60%
Bullish Breakout Probability: 40%
Conclusion
Slightly Bearish Bias unless confirmed breakout occurs.
Traders should wait for trend confirmation before entering positions.
A breakout or rejection at resistance will define the next major move.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.