ANALYSIS :-
Price has been consistently forming Higher Highs (HHs) and Higher Lows (HLs), indicating a bullish trend. However, bearish divergence has appeared on the RSI on the 4H timeframe. Following the bearish divergence, price failed to print another Higher High, indicating a potential loss of bullish momentum and price went on a distribution phase.
Subsequently, a bearish Descending Triangle pattern has formed, further supporting the possibility of a bearish reversal or continuation to the downside.
TRADE EXECUTION :-
The trade will be executed upon a confirmed breakdown below the Descending Triangle's support/breakdown level.
Price has been consistently forming Higher Highs (HHs) and Higher Lows (HLs), indicating a bullish trend. However, bearish divergence has appeared on the RSI on the 4H timeframe. Following the bearish divergence, price failed to print another Higher High, indicating a potential loss of bullish momentum and price went on a distribution phase.
Subsequently, a bearish Descending Triangle pattern has formed, further supporting the possibility of a bearish reversal or continuation to the downside.
TRADE EXECUTION :-
The trade will be executed upon a confirmed breakdown below the Descending Triangle's support/breakdown level.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.