On the 1-hour timeframe, we see the bearish divergence formation.
On the 2-hour timeframe, we see a confirmed reversal pattern represented by a shooting star candle "A" with a bearish engulfing candle "B" confirmation.
4-hour timeframe, also represented by shooting star.
We can expect a downward movement with a take-profit target near the "B" support area of $120, but we still need to break through the "A" support area near $140.
On the 2-hour timeframe, we see a confirmed reversal pattern represented by a shooting star candle "A" with a bearish engulfing candle "B" confirmation.
4-hour timeframe, also represented by shooting star.
We can expect a downward movement with a take-profit target near the "B" support area of $120, but we still need to break through the "A" support area near $140.
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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.