Close to RSI 70% level (oversold). Can't break the 0.903 resistance level. Forming tweezer top candlestick pattern in a daily chart. Brokedown ascending channel and forming a descending triangle. It might be Bearish Reversal. If it broke down 0.8996 to descending triangle possible to drop down to 0.8838 or more.
It will be a good confirmation for entry break down 0.8996 and retest back.
It will be a good confirmation for entry break down 0.8996 and retest back.
Note
still waiting for confirmation.Note
currently breaking down 0.8996. If in 4 hours chart candle completely close below that level and has a little bit of consolidation rejecting 0.8996 level on the lower time frames that would be good confirmation to open position.Note
Still waiting for confirmation break down descending triangle.Note
Trying to break down strong support 0.8992 level one more again. If a 4-hours candle closes below this level it is a good sign to the price goes down.We still need to retest that level to get confirmation to open the position.
Note
Finally, 4 hours big red candle closed below 0.8992. We still need to see some consolidation and rejection candles in small time frames. Let see how reacts on 0.8992 for a couple of hours like 1 or 2 hours.
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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.