- Big red bearish candle on previous D1 - Symmetrical triangle / bear flag - RSI very bearish - Measured objective measures perfectly to previous lows - Recent false break of downtrend
Weekly chart
The weekly picture looks very good at the moment, however there is still 36 hours until the close of the weekly candle, so this cannot be taken for granted yet. Provide price closes below 130 on the weekly candle, then the weekly chart looks very attractive.
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Position opened at 125.5
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Weekly chart close confirmed below trendline with bearish engulfing candle. Should be some good downside from here.
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Sorry, that previous chart wasn't clear. Here's a better one....