Price is dropping after the recent test of the Daily Resistance Zone.
2 possibilities might happen. 1 — price continues to drop. 2 — price goes into ranging after the recent test of Resistance Zone.
I'm more inclined toward possibility number 2. Because the price is showing some reversal candles at the Shark Pattern Potential Reversal Zone.
2 possibilities might happen. 1 — price continues to drop. 2 — price goes into ranging after the recent test of Resistance Zone.
I'm more inclined toward possibility number 2. Because the price is showing some reversal candles at the Shark Pattern Potential Reversal Zone.
Note
Price hit TP1 an hour ago. Now, it is testing the previous high and forming a bearish Shark Pattern. I will keep observing the price action at this point to decide when to close my 2nd entry for TP2.Trade closed manually
Manually close TP2
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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.