The present candles is a dead corner of nearest support and resistance.
A sharp price move is on the way in the coming days.
If we want do bet, this is a good position to join and buy or sell.
I tend to a short it here. After weeks price down, the upthrust could only
touch 0.5Fib line of the downtrend. It is a sign of weakness.
Besides, most candles stay below ice line.
K4 is a threatening engulfing pattern, but leave a long upper shadow, it couldn't
closed near the top like K3 or K2. Which verified a fact that the supply is still in control here.
Besides, the demand is decreasing, compared to K3 or K2.
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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.