Key Points:
1️⃣ False Breakout + Trendline Break:
Price falsely broke the daily blue resistance zone (fakeout).
Also broke the upper trendline while hitting overbought conditions → Strong bearish signal.
2️⃣ Current Trend:
Downtrend confirmed until price reaches the lower trendline.
Short Trade Setup:
Zones to Watch: Two minor purple zones inside the pattern.
Entry: Sell at the purple zones with:
1️⃣ False Breakout + Trendline Break:
Price falsely broke the daily blue resistance zone (fakeout).
Also broke the upper trendline while hitting overbought conditions → Strong bearish signal.
2️⃣ Current Trend:
Downtrend confirmed until price reaches the lower trendline.
Short Trade Setup:
Zones to Watch: Two minor purple zones inside the pattern.
Entry: Sell at the purple zones with:
- Bearish price action or false breakouts (marked on chart).
- Confirmation of trend continuation.
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.