Along with other strategy I used to determine the direction being bearish (that is 3SMA)
but I got fascinated with this perfectly matching levels of the shoulders !!
If you put (grid) on your chart , you'll note how candles made tails exactly at the same line/level for both shoulders.
I expect price to keep falling below the neck as it is supported by weekly 50sma being strong resistance and price action just showed unsuccessful attempt to break higher.
but I got fascinated with this perfectly matching levels of the shoulders !!
If you put (grid) on your chart , you'll note how candles made tails exactly at the same line/level for both shoulders.
I expect price to keep falling below the neck as it is supported by weekly 50sma being strong resistance and price action just showed unsuccessful attempt to break higher.