https://www.tradingview.com/x/AqtAM9ms/
From K1 to K3,
It is a bearish three soldiers advancing pattern.
It is a potential bear head of another bear run.
But it must be verified by the following candles.
The supply pressure at K3 is not heavy enough to ensure the following candles keep falling.
So, it is also possible that a large scale consolidation is still expanding.
If the following candles retest the uptrend line under increasing supply pressure,
It will be a good place to short it there.
If K4 close upon K3 immediately,
The risk will sharply increase.
Short-61100/Stop-63000/Target-42K
From K1 to K3,
It is a bearish three soldiers advancing pattern.
It is a potential bear head of another bear run.
But it must be verified by the following candles.
The supply pressure at K3 is not heavy enough to ensure the following candles keep falling.
So, it is also possible that a large scale consolidation is still expanding.
If the following candles retest the uptrend line under increasing supply pressure,
It will be a good place to short it there.
If K4 close upon K3 immediately,
The risk will sharply increase.
Short-61100/Stop-63000/Target-42K
Note
From K2 to K3, the supply pressure decreased.
So, the possibility of a second test to the nearest bear gap increased.
If the supply pressure sharply increased or demands sharply decreased during the second test.
It will be a good place to short it there.
From K1 to K3, the demands keep decreasing,
It will not take too much energy for the bear force to keep falling.
If K4 close below the neck line,
It is also a potential good place to short it near the neck line if the following candles rebound to test it.
On the other hand,
If K4 or the following candles close upon K2,
I will change my plan and even try to find signals to buy it.
Short-61888/Stop-63K/Target-46K
Note
K2 and K3 is a strong bearish engulfing pattern.
It verified that K2 is fake up candle.
It seems that the following candle will keep falling to test the lower price area of K0 or even close below it.
So, it will be a good place to short it at K4 if K4 price up to test the bear gap of K0 for a second time.
On the other hand,
If K4 close upon K3 immediately,
The risk will sharply increase.
Short-62444/Stop-63880/Target-42K
Note
K3 close below a triangle pattern under increasing volume,
It seems that the consolidation had ended here.
And the following candle will keep falling to test the lower price area of K3 or even close below it.
So, it will be a good place to short it at K3.
On the other hand,
If K4 close upon K3 immediately,
The risk will sharply increase.
I will try to buy back.
Short-62K/Stop-63K/Target-46K
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.