Good morning Traders,
As we can see we have reversed and showing bearish signs, yet we are also seeing exhaustion suggesting to me price action may potentially push up after forming a descending channel that may play out out to the upside indicated by the single black trend line and green directional arrow.
My area of interest has been highlighted if we get strong bearish continuation into this area i.e large bear candles showing momentum to the downside, this will confirm the early stages of our trend down, if we reject around this area we may potentially be in the early stages of a range.
but as always I will wait for price action to confirm and I will react to it,
what are your thoughts do you agree or not?
Thank you.
As we can see we have reversed and showing bearish signs, yet we are also seeing exhaustion suggesting to me price action may potentially push up after forming a descending channel that may play out out to the upside indicated by the single black trend line and green directional arrow.
My area of interest has been highlighted if we get strong bearish continuation into this area i.e large bear candles showing momentum to the downside, this will confirm the early stages of our trend down, if we reject around this area we may potentially be in the early stages of a range.
but as always I will wait for price action to confirm and I will react to it,
what are your thoughts do you agree or not?
Thank you.