Bullish Probability: 40%
Bearish Probability: 60%
Trend Structure: The market is currently in a downward channel, indicating bearish control unless a breakout occurs.
Pattern Formation: A descending wedge is forming, which can act as a reversal pattern if confirmed.
Momentum Indicators: RSI is below the mid-level, suggesting weak bullish strength. ADX shows that the bearish trend is still dominant but not overly strong.
Breakout Potential: A breakout above the descending trendline could shift momentum toward the bulls, but as of now, bearish sentiment prevails.
Conclusion:
Bearish momentum is slightly stronger, but the possibility of reversal exists if key resistance levels are broken.
Confirmation signals are needed before any major trend shift.
Bearish Probability: 60%
Trend Structure: The market is currently in a downward channel, indicating bearish control unless a breakout occurs.
Pattern Formation: A descending wedge is forming, which can act as a reversal pattern if confirmed.
Momentum Indicators: RSI is below the mid-level, suggesting weak bullish strength. ADX shows that the bearish trend is still dominant but not overly strong.
Breakout Potential: A breakout above the descending trendline could shift momentum toward the bulls, but as of now, bearish sentiment prevails.
Conclusion:
Bearish momentum is slightly stronger, but the possibility of reversal exists if key resistance levels are broken.
Confirmation signals are needed before any major trend shift.
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.