W1 : Last week price action triggered a BEARISH ENGULFING PATTERN !
Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret
@ 51106.
Of course, such kind of bearish candlesticks, should be, in this W1 time frame,
confirmed on a closing basis at the end of this week !
Nevertheless, the fact that we get out of the uptrend channel is one of the first
warning signal that the former bullish trend could be over.
Watch shorter time frames to monitor the ongoing price action which would allow to act accordingly
on the time frames you choose for your trading strategies !
Have a nice trading week, all the best, take care and have fun !
May your long goes up and your short goes down.
And finally, please do not hesitate, of course, if you find, my technical analysis approach, valuable for you, to like it
and to add me, if it is not done yet, on your following list.
Ironman88848
Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret
@ 51106.
Of course, such kind of bearish candlesticks, should be, in this W1 time frame,
confirmed on a closing basis at the end of this week !
Nevertheless, the fact that we get out of the uptrend channel is one of the first
warning signal that the former bullish trend could be over.
Watch shorter time frames to monitor the ongoing price action which would allow to act accordingly
on the time frames you choose for your trading strategies !
Have a nice trading week, all the best, take care and have fun !
May your long goes up and your short goes down.
And finally, please do not hesitate, of course, if you find, my technical analysis approach, valuable for you, to like it
and to add me, if it is not done yet, on your following list.
Ironman88848
