As indicated yesterday we were anticipating for a fall , before confirming the UPWARD MOVEMENT which suggested we will hit $3445 - 49 yes we achieved the target not as expected but we did try the waters at $3433.
TODAY --------------------------------
The PRICE has been declining UPPER (BULLISH) breakouts which suggests BULLS have exhausted their BUYING power and BEARS are trying to enter the market (DOWNTREND).
If $3311- 15 holds as SUPPORT LEVEL , we might see A REVERSAL , but if it breaks we might see further DOWNSIDE.
If the BEARISH TREND continues and price fails to break the RESISTANCE , then selling becomes a valid confirmed OPTION,however as indicated on the chart please wait for confirmation from the KEY LEVELS , which are :- $3370 , $3270 and $3223 only after we break this zones we can confirm OUR MELTDOWN- DOWNTREND.
A BULLISH SHARK pattern has formed on the chart suggesting a possible reversal , this means if the pattern respects the harmonic structure , we could see a REVERSAL.
Inside Bar formation which signals A CONSOLIDATION before breakout , however if the price breaks inside the BAR RANGE , it can signal BULLISH MOMENTUM.
A symetrical triangle formation indicating price is coiling up for a breakout, so if the price breaks the upper boundary then BULLS are still on , but if the price breaks down below the lower boundary then that confirms our fall.
The candlestick formation indicates two major aspects
1. POTENTIAL REVERSAL
2. CONTINUATION .
Overall today's market is a NO GO ZONE for those with small LIQUIDITY , however if you trust yourself that much , then i already have my pending sell entries awaiting to be checked, meaning we are BEARS DOWN SOON.
TODAY --------------------------------
The PRICE has been declining UPPER (BULLISH) breakouts which suggests BULLS have exhausted their BUYING power and BEARS are trying to enter the market (DOWNTREND).
If $3311- 15 holds as SUPPORT LEVEL , we might see A REVERSAL , but if it breaks we might see further DOWNSIDE.
If the BEARISH TREND continues and price fails to break the RESISTANCE , then selling becomes a valid confirmed OPTION,however as indicated on the chart please wait for confirmation from the KEY LEVELS , which are :- $3370 , $3270 and $3223 only after we break this zones we can confirm OUR MELTDOWN- DOWNTREND.
A BULLISH SHARK pattern has formed on the chart suggesting a possible reversal , this means if the pattern respects the harmonic structure , we could see a REVERSAL.
Inside Bar formation which signals A CONSOLIDATION before breakout , however if the price breaks inside the BAR RANGE , it can signal BULLISH MOMENTUM.
A symetrical triangle formation indicating price is coiling up for a breakout, so if the price breaks the upper boundary then BULLS are still on , but if the price breaks down below the lower boundary then that confirms our fall.
The candlestick formation indicates two major aspects
1. POTENTIAL REVERSAL
2. CONTINUATION .
Overall today's market is a NO GO ZONE for those with small LIQUIDITY , however if you trust yourself that much , then i already have my pending sell entries awaiting to be checked, meaning we are BEARS DOWN SOON.
Note
Gartley Fibonacci pattern identified at 5/7 14:00. This pattern is still in the process of forming. Possible bearish price movement towards target levels ranging from 3,392.16 to 3,346.16 within the next 5 hours.Let's see how it'll unfold
Note
Gartley Fibonacci pattern identified at 5/7 14:00. This pattern is still in the process of forming. Possible bearish price movement towards target levels ranging from 3,392.16 to 3,346.16 within the next 5 hours. Im reckoning to hit $3406-10 before seeing that fall , so we should expect a MINOR BUY , before we experience our FALL.
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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.