Going to keep this one short and simple. Our bearish sentiment remains and the only obstruct we are faced with at the moment is this 4H ascending trendline that's been refusing to break through ever since May 13th. We can not fully confirm our bears if we won't break below it. We saw 4 clear rejections from the trendline now, but the rejection volatility in the bullish side looks like it calmed down a little. Looking to see how this next 4H candle plays out before making any drastic decisions.
Assuming we finally break the trendline (depending on how strong the break will be), we might be even looking to retest it in order to form further potential short entries.
If you want to get more details in general about further price action, then consider reading my previous published idea.
This is NOT a financial advice, trade at your own risk!
Assuming we finally break the trendline (depending on how strong the break will be), we might be even looking to retest it in order to form further potential short entries.
If you want to get more details in general about further price action, then consider reading my previous published idea.
This is NOT a financial advice, trade at your own risk!
Note
Looks like we have a bounce off the trendline for now. Price will move higher in the meantime. Updates will follow!
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.