Looking into the 5mins time frame, a potential rising wedge formation can be spotted which is an indicator of a reversal pattern and signaling a short/bearish movement.
Additionally, a tested level of resistance on timeframes (5mins, 15mins, 1 hour). Risk:Reward is favorable in this scenario.
Additionally, a tested level of resistance on timeframes (5mins, 15mins, 1 hour). Risk:Reward is favorable in this scenario.
Trade closed: target reached
Rising Wedge Formation successful formed and short play has happened.
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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.