The price action seems to be suggesting the formation of Bear Flag Pattern.
The price fell steeply and then gave a pullback, which is getting sold into.
As the channel of flag breaks downwards, the fall may gain momentum.
Further price action will confirm or negate the pattern, it may move cleanly or will have whipsaws.
If the price starts consolidating for long here, rather than breaking downwards, the pattern may fail.
Trade Safe
The price fell steeply and then gave a pullback, which is getting sold into.
As the channel of flag breaks downwards, the fall may gain momentum.
Further price action will confirm or negate the pattern, it may move cleanly or will have whipsaws.
If the price starts consolidating for long here, rather than breaking downwards, the pattern may fail.
Trade Safe
Keep It Simple.
“You do not want to win an argument. You want to win.” ― Nassim Nicholas Taleb
“You do not want to win an argument. You want to win.” ― Nassim Nicholas Taleb
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Keep It Simple.
“You do not want to win an argument. You want to win.” ― Nassim Nicholas Taleb
“You do not want to win an argument. You want to win.” ― Nassim Nicholas Taleb
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.