Hi guys!
As you can see since we broke out from the trinagle on the 26th of May with low volume, we always had a big sell volume followed by a small buy volume.
What I am looking for is a big sell volume, bigger than the previous buy volumes. We found resistance at the 0.382 fibb. level, which is a great sign for a continuing correction.
If we have a look on the weekly chart, we can find further confirmations of a potential correction.
First: Reversed Hammer green candle - LOW VOLUME
Second: Followed by a doji candle - LOW VOLUME
Third: We are currcently forming our RED reversed hammer - LOW VOLUME
Low volume with these candle formations favours for the bears. Of Course, anything can happen, but it highly more likely to break downwards, than upwards.
***It is not a financial advice, it is only my own opinion***
If you liked the analysis please leave a like, if you have any quesionts leave a comment below!
As you can see since we broke out from the trinagle on the 26th of May with low volume, we always had a big sell volume followed by a small buy volume.
What I am looking for is a big sell volume, bigger than the previous buy volumes. We found resistance at the 0.382 fibb. level, which is a great sign for a continuing correction.
If we have a look on the weekly chart, we can find further confirmations of a potential correction.
First: Reversed Hammer green candle - LOW VOLUME
Second: Followed by a doji candle - LOW VOLUME
Third: We are currcently forming our RED reversed hammer - LOW VOLUME
Low volume with these candle formations favours for the bears. Of Course, anything can happen, but it highly more likely to break downwards, than upwards.
***It is not a financial advice, it is only my own opinion***
If you liked the analysis please leave a like, if you have any quesionts leave a comment below!
Nota
Closed below the 21 EMA, good sign for bears.
Nota
Everything goes according to the plan, we have a nice close below the 4H 200 MA
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.