1. Price has shown strong Bearish Momentum as it has printed a Strong Evening Star followed by a Bearish break to the downside, breaking the previous structure.
2. Price has formed a new Lower Low and Lower High.
3. The EMA has also crossover to the downside indicating a potential Bearish Tideshift as the MA 50 has gone flat and EMA 14 is shifting downwards.
4. Will expecting a retest on the broken support turned resistance for sign of further bearish continuation.
5. Alternative scenario. If price failed to found sustained selling pressure on the Supply Zone (Red Zone) and close above it, the trade is invalidated. Ideally I will be looking for sign of exhaustion on the supply zone and the formation of a new Lower High as confirmation to the bearish Continuation.
2. Price has formed a new Lower Low and Lower High.
3. The EMA has also crossover to the downside indicating a potential Bearish Tideshift as the MA 50 has gone flat and EMA 14 is shifting downwards.
4. Will expecting a retest on the broken support turned resistance for sign of further bearish continuation.
5. Alternative scenario. If price failed to found sustained selling pressure on the Supply Zone (Red Zone) and close above it, the trade is invalidated. Ideally I will be looking for sign of exhaustion on the supply zone and the formation of a new Lower High as confirmation to the bearish Continuation.
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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.