Zooming out, we can see that price is being dominated by the sellers as price moves within a bearish channel.
The most recent price action is printing in the shape of a triangle which can often be a correction pattern in a trending market.
Look for price to test the top of the triangle and see if it reverses (or we could potentially see a false break).
Then look for a break below the triangle if the bearish momentum continues further.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
The most recent price action is printing in the shape of a triangle which can often be a correction pattern in a trending market.
Look for price to test the top of the triangle and see if it reverses (or we could potentially see a false break).
Then look for a break below the triangle if the bearish momentum continues further.
If you agree with the analysis, look for opportunities to trade that meet your own strategy rules and always use good risk management.
Low-Cost Trading, for everyone, everywhere.
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.
Low-Cost Trading, for everyone, everywhere.
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.