After the liquidity spike we saw on the daily we can now see the market is shifting in to bearish market on lower time frames. However overall the market is still bullish on Higher time frames.
Price has already retraced and rejected the 78.6 fibbo level since then we have created a head&shoulder pattern for extra confluence to support my short idea.
I’m now looking to see if we can print a new lower high to test the neckline of the H&S. I’ll monitor price action for confirmation.
So far looks good to me as if you look at the daily you can see the candle stick formation is bearish.
Price has already retraced and rejected the 78.6 fibbo level since then we have created a head&shoulder pattern for extra confluence to support my short idea.
I’m now looking to see if we can print a new lower high to test the neckline of the H&S. I’ll monitor price action for confirmation.
So far looks good to me as if you look at the daily you can see the candle stick formation is bearish.
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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.