Seems like a Bearish Flag pattern on the horizon. Let's consider the situation.
There are several signs on the Chart telling us that we are going to drop, but market can keep a special surprise for you, and you have to keep that in mind.
Start with first signal which is a Bearish Flag pattern, this signal can work because now is a perfect environment for it, as I wrote in my previos idea we are facing a Mid Term downtrend (one exception: Retracement from the level we have on current is able to change this environment. But chances are reducing because time is going and we are not seeing any actions to the Upward).
Ichi Cloud indicator looks bearish too. Price is below the Cloud which means the trend is down, I think it is an obvious thing even without this indicator. But this indicator also shows us that this trend is strengthened. With this indicator the trend may be considered as strengthened when the bottom of the Cloud moving down (in the same direction as the price).
As an example you can take a look on the period of Growth and see how the Cloud worked. (I marked this moment with blue arrows)
Moving averages:
65 Moving Average suits to this conditions the most, you can see that this line served as a Dynamic resistance in the past. On this Chart this line has two functions:
First: it can continue to serve as a Dynamic support in case we fall
Second: it can save us from losses in case the Price will choose another direction, by crossing with 25 MA.
(If there is a crossover between these MAs we will have to estimate behavior of this two lines, because price might change the direction not for long, or two lines will move very close to each other if there won't be a volatilite. That's why we can't make a conclusion that direction will change after Crossover. It will only make a good sign that we are not falling for Short term, and it's better to wait and not initiate the trade.)
Conclusion: As I said above we have a good enviroment for this downmove to happen (please read my previous idea about the enviroment). But you should keep in mind that something can go wrong. (as an example it can be a retracement)
Thank you for coming and reading this analysis! Please write below your thoughts about this analysis and about the whole situation. Would be great to see your ideas too!
Also hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas!
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 Advise.
There are several signs on the Chart telling us that we are going to drop, but market can keep a special surprise for you, and you have to keep that in mind.
Start with first signal which is a Bearish Flag pattern, this signal can work because now is a perfect environment for it, as I wrote in my previos idea we are facing a Mid Term downtrend (one exception: Retracement from the level we have on current is able to change this environment. But chances are reducing because time is going and we are not seeing any actions to the Upward).
Ichi Cloud indicator looks bearish too. Price is below the Cloud which means the trend is down, I think it is an obvious thing even without this indicator. But this indicator also shows us that this trend is strengthened. With this indicator the trend may be considered as strengthened when the bottom of the Cloud moving down (in the same direction as the price).
As an example you can take a look on the period of Growth and see how the Cloud worked. (I marked this moment with blue arrows)
Moving averages:
65 Moving Average suits to this conditions the most, you can see that this line served as a Dynamic resistance in the past. On this Chart this line has two functions:
First: it can continue to serve as a Dynamic support in case we fall
Second: it can save us from losses in case the Price will choose another direction, by crossing with 25 MA.
(If there is a crossover between these MAs we will have to estimate behavior of this two lines, because price might change the direction not for long, or two lines will move very close to each other if there won't be a volatilite. That's why we can't make a conclusion that direction will change after Crossover. It will only make a good sign that we are not falling for Short term, and it's better to wait and not initiate the trade.)
Conclusion: As I said above we have a good enviroment for this downmove to happen (please read my previous idea about the enviroment). But you should keep in mind that something can go wrong. (as an example it can be a retracement)
Thank you for coming and reading this analysis! Please write below your thoughts about this analysis and about the whole situation. Would be great to see your ideas too!
Also hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas!
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 Advise.
