Why red candle started at the top of descending channel , RSI over bought (with bearish divergence) and Stochastic the same way?
Why price showing this weakness just at 200 sma and macd also gave a cross ?
It is all signs of warning trend in over here , just stop looking at the small frames letting it mislead you yeah we
are in up trend and will proceed , it is intact ..... it is a TRAP.
just remember when you see a sell sign at 4H chart then after you jump in , Ooops price goes up cause it was at the bottom of descending channel .....
Here the same situation but reversed .
I do not mind that price will go to 107 then 109 as some traders posted a very talented analyzes , but what I talk about is the afterwards : this trend is not going to proceed , on the contrary sharp fall down is coming.
therefore , when you buy you should know it is a counter trend entry not with trend :) time will say the truth.
Why price showing this weakness just at 200 sma and macd also gave a cross ?
It is all signs of warning trend in over here , just stop looking at the small frames letting it mislead you yeah we
are in up trend and will proceed , it is intact ..... it is a TRAP.
just remember when you see a sell sign at 4H chart then after you jump in , Ooops price goes up cause it was at the bottom of descending channel .....
Here the same situation but reversed .
I do not mind that price will go to 107 then 109 as some traders posted a very talented analyzes , but what I talk about is the afterwards : this trend is not going to proceed , on the contrary sharp fall down is coming.
therefore , when you buy you should know it is a counter trend entry not with trend :) time will say the truth.