A trend reversal from 0.5 retracement level of previous bull rally, and subsequent lower highs are a strong indication for the upcoming bearish trend.
The strong bearish candlestick pattern on the hourly chart at the current price might be indication of a new lower high, making it a good time to short.
The strong bearish candlestick pattern on the hourly chart at the current price might be indication of a new lower high, making it a good time to short.
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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.