The bear trends continues after some days of bullish move.
On the 3hours time frame, price has been spotted forming a bearish pattern chart pattern with tight flag price formation. When trading the pennant flag pattern(bullish or bearish), A tight pennant performs better than a loose one.
The flag looks more like a short symmetrical triangle and volume profile trend downward 89% of the time.
It is advisable that traders should always wait for a possible breakout and price should close outside the pattern before taking a position.
VERDICT:
SELL/SHORT: $0.043857
BUY: $0.039630 down to $0.035476
STOP LOSS: $0.046445
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
On the 3hours time frame, price has been spotted forming a bearish pattern chart pattern with tight flag price formation. When trading the pennant flag pattern(bullish or bearish), A tight pennant performs better than a loose one.
The flag looks more like a short symmetrical triangle and volume profile trend downward 89% of the time.
It is advisable that traders should always wait for a possible breakout and price should close outside the pattern before taking a position.
VERDICT:
SELL/SHORT: $0.043857
BUY: $0.039630 down to $0.035476
STOP LOSS: $0.046445
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.