The double bottom at support is giving shape to a descending triangle pattern.
Lower highs and a horizontal line of support are the trademarks of this pattern.
If we see just another lower high on this small bounce attempt, the range will continue to tighten.
We are on the verge of a bearish cross of 4 hour EMA 12 and 26.
Essentially bears still have short term control, but the bulls are not just rolling over and giving it to them.
Bulls have to make a convincing shift in momentum this morning or another leg down is inevitable.
Lower highs and a horizontal line of support are the trademarks of this pattern.
If we see just another lower high on this small bounce attempt, the range will continue to tighten.
We are on the verge of a bearish cross of 4 hour EMA 12 and 26.
Essentially bears still have short term control, but the bulls are not just rolling over and giving it to them.
Bulls have to make a convincing shift in momentum this morning or another leg down is inevitable.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
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.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
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.