On the H4 chart, we can see a bearish pennant forming.
A bearish pennant is a bearish continuation pattern.
Before entering a short position, I will wait for confirmation by a break in the support trend line. I will also be checking the indicators for cross overs (RVI, and MACD) to show signs of a bearish move and potential overbought regions of the RSI.
I am new to trading, so I am open to any feedback.
A bearish pennant is a bearish continuation pattern.
Before entering a short position, I will wait for confirmation by a break in the support trend line. I will also be checking the indicators for cross overs (RVI, and MACD) to show signs of a bearish move and potential overbought regions of the RSI.
I am new to trading, so I am open to any feedback.