Confluences and Probability
- Clear downtrend 4H + DAILY
- 79.703 is channel low on the daily T.F we are seeing a clear break of this level
- All MA's are suggesting strong bearish momentum
- While having all these confluence to give evidence that we are in a overall bearish market we have other independent factors such as this clear ''Bearish Pennant'' in which we expecting a strong breakout to the downside and take a 2:1 Position the bearish pennant in it's self is a ''Bearish'' candlestick formation in which we should be looking to take a short trade to the downside
- Unable to show you the daily chart, but the previous day friday 20th the market printed a LWP Long wick pattern in which price rejected off the previous daily support turned resistance
All for now i'm going to start posting a little more charts :D
- Clear downtrend 4H + DAILY
- 79.703 is channel low on the daily T.F we are seeing a clear break of this level
- All MA's are suggesting strong bearish momentum
- While having all these confluence to give evidence that we are in a overall bearish market we have other independent factors such as this clear ''Bearish Pennant'' in which we expecting a strong breakout to the downside and take a 2:1 Position the bearish pennant in it's self is a ''Bearish'' candlestick formation in which we should be looking to take a short trade to the downside
- Unable to show you the daily chart, but the previous day friday 20th the market printed a LWP Long wick pattern in which price rejected off the previous daily support turned resistance
All for now i'm going to start posting a little more charts :D