This week's candle failed to close below the neckline.
At present, there are three candles failed to break down.
K1 to K3 is three soldiers stalled pattern, which means a temporary stop of the price.
K4 is an inverted hammer pattern, which means the price tends to go up.
And the volume of K4 hadn't increased.
So, the supposed downtrend is most likely couldn't recover immediately.
The possibility of pricing up increased here.
When the price up to test the midline of the box or the upper limit of K2 with relatively low volume,
There will be good opportunity to short it there.
Note
After a revert red hammer candle K1, K2 is a dead corner candle to K1,
K2 had't verified the potential price up momentum of K1, the bear force and bull force here is temporarily in balance.
Under the nearest background(three soldiers pattern), the price here is more likely to go down to test the support.
If the price failed to close below the diagonal support, I will try to buy there.
If the price up to test the diagonal resistance or upper price of K1, there may be chances to short it.
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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.