- Monthly: HL formed, looking for LH Monthly three pin formation bouncing of Weekly Resist and closing below Monthly key level.
Evening star formation formed resisting Weekly Resist and closing below Monthly key level.
Shooting star reversing sharp from weekly resistance.
bears gaining upperhand, reversal incoming.
Weekly: Bearish engulfing into a dragonfly doji , making a shooting star spiking through major resistance and closing below, together with the 8EMA closing below, both now acting as resistance.
MA’s are up, looking for a potential crossover to the downside.
Bears gaining upperhand.
Daily: Daily fib retrace tapped 61.8 and reversed spiking through.
2 taps on the trendline descending triangle forming, upon breaking and closing under, potential outer trend line retest target 2
The evening star formation and bearish engulfing closing under major key level
Shooting star formed confirming more bearish momentum
Ma’s crossed to the downside.
4H: Enter upon close bearish engulfing through major key level, could have entered on three pin formation when retesting the 61.8 fib retrace.
After bearish engulfing , retested major level with shooting star entering consolidation box.
Friday close candle, marubozu bearish candle
Target 2 should be achieved here breaking inner trendline going too outer one.
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Daily chart:
You are where your attention is.
My bad.