1. Price has completed the Flag formation last Friday prior to the close of the market.
2. The EMA has crossover to the downside indicating a potential Bearish tideshift with the MA 50 going flat and EMA 14 shifting downwards.
3. Will be expecting price to retest the Supply Zone (red Zone) which has confluence with the Dynamic resistance to confirm the break of the Flag pattern for further bearish continuation sign.
4. Alternative Scenario. If price managed to find sustained bullish momentum to close above the Red Zone and show no indication of Selling pressure. The trade is invalidated as price could potentially make a new Higher Low and continue to push higher.
2. The EMA has crossover to the downside indicating a potential Bearish tideshift with the MA 50 going flat and EMA 14 shifting downwards.
3. Will be expecting price to retest the Supply Zone (red Zone) which has confluence with the Dynamic resistance to confirm the break of the Flag pattern for further bearish continuation sign.
4. Alternative Scenario. If price managed to find sustained bullish momentum to close above the Red Zone and show no indication of Selling pressure. The trade is invalidated as price could potentially make a new Higher Low and continue to push higher.
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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.