https://www.tradingview.com/x/zaUEAnM1/
K3 is a bullish hammer candle,
But it must be verified by the following candles.
It seems that the bearish momentum had been interrupted by K3.
If the following candles close upon K3 or the downtrend line,
Another bull run may star from here.
On the other hand,
If the following candles close below K3 or the uptrend line,
The risk will sharply increase.
The newly born downtrend may expand.
K3 is a bullish hammer candle,
But it must be verified by the following candles.
It seems that the bearish momentum had been interrupted by K3.
If the following candles close upon K3 or the downtrend line,
Another bull run may star from here.
On the other hand,
If the following candles close below K3 or the uptrend line,
The risk will sharply increase.
The newly born downtrend may expand.
Note
From k1 to K3,
It is a bearish evening star pattern,
If the following candles close below K2,
The short-term downtrend may expand.
On the other hand,
The supply pressure keeps decreasing,
If the following candles close upon K2,
I will try to buy it there.
Long-122.5/Stop-119.9/Target-135
Note
K3 is a renounce but failed to close the nearest bear gap at K0.
The bull force is still too weak to reverse the short-term downtrend.
If the following candles close upon K0 or successfully retest the support,
It is still possible that another bull run start from here.
If I had bought it earlier,
I will cut off at least half of my long positions to avoid the consolidation or another bear run.
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.