Hey traders,
As you know every friday i post a prediction. These predictions are not ment to be traded.
ITS FOR EDUCATIONAL PROPOSE.
Analysis.
Daily:
The price broke out through the high of the previous outside return. So the bearish trend ins over and we might see a reversal of trend.
While the trend was broken it pushed back up into a previous structure level with more than 3 point touched recently. After the level was hit the price made some deceleration candles which indicate's the bulls are likely to step out of the trade.
240:
On the 4H chart we see a rising wedge pattern formation. This is also a bearish indication that the market is likely to reverse to make a move down.
But this is not the only confirmation we can get on this chart...->
60:
On the 1H chart the price made also a H&S pattern with the same neckline as the 240 rising wedge pattern! So for more confirmation if the price breaks this neckline this could be a very good shorting opportunity!.
Have a nice weekend!
Regards
As you know every friday i post a prediction. These predictions are not ment to be traded.
ITS FOR EDUCATIONAL PROPOSE.
Analysis.
Daily:
The price broke out through the high of the previous outside return. So the bearish trend ins over and we might see a reversal of trend.
While the trend was broken it pushed back up into a previous structure level with more than 3 point touched recently. After the level was hit the price made some deceleration candles which indicate's the bulls are likely to step out of the trade.
240:
On the 4H chart we see a rising wedge pattern formation. This is also a bearish indication that the market is likely to reverse to make a move down.
But this is not the only confirmation we can get on this chart...->
60:
On the 1H chart the price made also a H&S pattern with the same neckline as the 240 rising wedge pattern! So for more confirmation if the price breaks this neckline this could be a very good shorting opportunity!.
Have a nice weekend!
Regards
