Waiting for bearish patterns.
Hello friends
I hope you have used the previous two analyses and made a good profit from the market
So let's review what happened on the chart;
The price first moved up and then we had the second leg of the spike, which was at least as big as the first leg.
After that, the price distance from the 4-hour and daily moving (EMA) became very large and the price moved down again.
Now we see that according to our analysis, the price increased again and reached the 4-hour moving average of 20 Exponential.
Well, my opinion is that the price will move down again.
I have several reasons for this analysis;
- The first and second ascending legs have been completed and in these cases, the price either makes a trading range or moves toward the price node between the two legs.
The distance between the price and the weekly moving has increased.
After the above two options, I choose the second one.
I also specified the target range.
I'm just waiting for bearish patterns, it may take a long time to form, or it may be swift, in any case, I'm waiting for bearish patterns.
I hope I have provided a correct analysis again.
Cordial reguards;
Ali
I hope you have used the previous two analyses and made a good profit from the market
So let's review what happened on the chart;
The price first moved up and then we had the second leg of the spike, which was at least as big as the first leg.
After that, the price distance from the 4-hour and daily moving (EMA) became very large and the price moved down again.
Now we see that according to our analysis, the price increased again and reached the 4-hour moving average of 20 Exponential.
Well, my opinion is that the price will move down again.
I have several reasons for this analysis;
- The first and second ascending legs have been completed and in these cases, the price either makes a trading range or moves toward the price node between the two legs.
The distance between the price and the weekly moving has increased.
After the above two options, I choose the second one.
I also specified the target range.
I'm just waiting for bearish patterns, it may take a long time to form, or it may be swift, in any case, I'm waiting for bearish patterns.
I hope I have provided a correct analysis again.
Cordial reguards;
Ali
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