The pink line represent the trend line and if that forms a descending triangle there would be a high probability that initiate a bear move towards 300
Scenarios:
1. Retest 335 mark two more time
2 doesn't cross above trend line
Scenarios:
1. Retest 335 mark two more time
2 doesn't cross above trend line
Comment:
As it breaks the trend line and retested 350 mark 3 rd time high probability for a bull move let's wait for confirmation
Comment:
The move is near consolidating near 355 high probability crossing 370
Comment:
Witnessed a bearish engulfing near 357..waiting for retest..as I mentioned earlier it broke the trend line at 347 it went up till 357 but the momentum is neither steady or strong would gain momentum after retest..and also this is still risky phase because..many crash came after a bull fake out..still we are in a potentialdanger bear zone..
Comment:
Looks bear is holding after retesting at 350 level there is not enough momentum. Trying to form a descending traingle..signals bear
Comment:
Bear scenario:
*Consolidate lower than 355
*Doesn't cross above 357 and hit 360 level
Potential levels:
335,310
*Consolidate lower than 355
*Doesn't cross above 357 and hit 360 level
Potential levels:
335,310
Comment:
Just before retested at 347 still didn't cross my trend line and it rejected at the trend line possibly crash to 330 or higher while next retest..
Comment:
While the price action shown the restest is a failure to break support..and crosses our trend line showing all signs of bull trend..broke above 360..
