Hello everybody, I want to share this with you!
-On a 4-hour time frame, we can see that the price was moving in a strong bearish direction and now the price is forming a descending triangle pattern.
-The descending triangle is a sign that the price will very likely continue falling in a bearish direction.
-We can see on lower time frames such as 1-hour time frame that the price tested and rejected multiple times resistance line of the descending triangle, we can also see that last hour the price formed Doji candle and now we can see that the price tested and rejected again resistance line of descending triangle and the price continues moving in a bearish direction.
-I consider this as a solid opportunity to go short(to sell) because we have solid conformations to take a short position,...-But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour time frame, we can see that the price was moving in a strong bearish direction and now the price is forming a descending triangle pattern.
-The descending triangle is a sign that the price will very likely continue falling in a bearish direction.
-We can see on lower time frames such as 1-hour time frame that the price tested and rejected multiple times resistance line of the descending triangle, we can also see that last hour the price formed Doji candle and now we can see that the price tested and rejected again resistance line of descending triangle and the price continues moving in a bearish direction.
-I consider this as a solid opportunity to go short(to sell) because we have solid conformations to take a short position,...-But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.