- Lower high on falling trendline lower high relative to December 1st 17 high
Test of trendline is overbought daily Stochastic (14,3,3) confluent with 6th december 17 low (green eclipse) turning resistance with double top, also corresponding with 618% retrace from previous swing high
ABC correction seemingly complete
Thursday candle formed shooting star with Friday candle closing higher albeit inside thursday candle - consolidative, breakout pending
4HR candle breakdown of Friday: At triangle resistance we saw Tweezer top, spinning top, hanging man followed with a bearish closing candle for the week. On monday price continued to consolidate with a further shooting star, testing triangle resistance and another shooting star forming LH on tops - BEARISH risks considerable! Price then broke down towards triangle support