https://www.tradingview.com/x/XXFxVKM5/
K3 failed to close upon K1.
It is a first test to the resistance.
The supply pressure decreased,
So, it is likely that the following candles will test the resistance for more times.
K1 is a bullish hammer candle,
But it must be verified by the following candles.
If the following candles couldn’t obviously close upon K1.
It is very likely that the newly born downtrend will keep expanding.
Short-58414/Stop-59414/Target-42K
K3 failed to close upon K1.
It is a first test to the resistance.
The supply pressure decreased,
So, it is likely that the following candles will test the resistance for more times.
K1 is a bullish hammer candle,
But it must be verified by the following candles.
If the following candles couldn’t obviously close upon K1.
It is very likely that the newly born downtrend will keep expanding.
Short-58414/Stop-59414/Target-42K
Note
K4 close upon the bullish hammer candle of K1 under increased demands.
It verified a short-term uptrend.
The following candles must stand upon K4 to verified it.
Only after that,
I will change my mind and try to buy it.
On the other hand,
If the following candles failed to stand upon K1,
And even close below the high price area of K1,
The previous downtrend may regain its strength.
Short-62990/Stop-63990/Target-44K
Note
It seems that the following candles will consolidate here for days.
If the following candles fall to test the downtrend line under increased demands,
I will try to buy it there.
If the following candles price up to test the neck line of the previous bear head under increased supply pressure,
I will try to short it there.
Buy-56K/Stop-55K/Target-62K;
Short-64K/Stop-65K/Target-44K.
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.