The hourly chart is in a downtrend, and we are at that trend line.
On the 15m chart, the momentum of buyers has slowed down to the point where sellers hit it hard as shown by the black arrow.
We want to see the "Last strong buyer" failing to make a new high (or creating a fake high), retesting the horizontal and price falling out of bed.
Waiting for the retest is best but price might not retest before dropping.
On the 15m chart, the momentum of buyers has slowed down to the point where sellers hit it hard as shown by the black arrow.
We want to see the "Last strong buyer" failing to make a new high (or creating a fake high), retesting the horizontal and price falling out of bed.
Waiting for the retest is best but price might not retest before dropping.
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.