K5 break down the lower price of K0,
It verified a downtrend bear market is trying to expand down.
I have to close all my long positions at K4 to avoid the potential risk.
And also, I will try to short it around 0.382-0.5fib area.
If the following candles return back upon the uptrend line or K4,
I will try to buy back.
Trade active
K4 is breaking the uptrend line and the neck line of the potential bear head.
If K4 close below the neck line,
The previous three years bull market will be terminated here.
Note
From K1 to K3,
It is a strong bearish three soldiers advancing pattern.
It is breaking the uptrend line and the neck line of a potential large scale bear head.
The newly born downtrend is obviously accelerating here.
If the following candles close below the neck line,
The previous three years bull market will be terminated here.
On the other hand,
If the following candles close upon K3,
I will try to buy back.
Short-91.8K/Stop-94.4K/Target-74K
Short-90.8K/Stop-94.4K/Target-74K
Note
K3 verified a potential support around 0.382-0.5Fib area.
It the following candle fall to test 74K-76K,
It will be valuable to buy then.
Before the market truly break down the 0.5fib line,
I will not short it with heavy positions.
Note
After K3 close below the neck line,
a potential bear head had been established.
The nearest six candles also verified a downtrend channel.
It is most likely that the nearest six months uptrend wave had been reversed.
The 0.382-0.5fib area is the potential support.
If the following candles fall to test 0.5fib area,
It will be valuable to buy then.
If the following candle rebound to test the neck line,
I will try to short it.
Note
If K4 couldn’t close upon 0.5fib line or the neck line,
The large scale bear trend couldn’t be reversed easily.
And, the 0.382-0.5fib area is a potential good place to short it.
Note
If the following candles return back upon the neck line,
I will try to buy it.
If there are weak candles test the neck line,
I will try to short it.
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.