daily trend = bearish
4h = bearish
strategy = shorting?
time frame = 4h
signals:
1. buyer exhaustion
2. bearish engulfing
3. price consolidation
waiting for:
1. price breakout
2. morningstar to indicate potential reversal
would not enter the market just yet as there is uncertainty in the market, hence the sideways move.
4h - bearish
1. Strong bearish trend
2. Multiple doji's indicated showing strong indecision in the market
3. Overall, with their being a lack of positive indication that there will be a bullish momentum, I wouldn't enter the market. I think that buyers are holding on and waiting till it reaches the next point of support before it potentially goes bullish
Since June 2019 the trend has been going down; there was a sharp dip in march 2020 (during covid-19); based on the bullish engulfing occurring twice and price currently being held, I suspect that the price will continue to go up towards resistance
