Look familiar? Two similar patterns, " Evening Star Doji" with very similar volume profiles. If the pattern continues, we should see a slow bleed making a lower low over the course of the new few days, followed by a bounce forming a higher low.
After confirmation of the Evening star doji, this current weekly candle should backtest the 3rd confirmation red candle from last week, at least half of it. That was now completed with a retest of $8100 earlier today. Take a look at the daily chart as well, if pattern continues, this is as high as we will go before making a lower low. I'm currently short.
Targeting $7060ish for new local bottom with a strong bounce to $7750 where ill be re shorting.
After confirmation of the Evening star doji, this current weekly candle should backtest the 3rd confirmation red candle from last week, at least half of it. That was now completed with a retest of $8100 earlier today. Take a look at the daily chart as well, if pattern continues, this is as high as we will go before making a lower low. I'm currently short.
Targeting $7060ish for new local bottom with a strong bounce to $7750 where ill be re shorting.