I am still new to TA so I welcome any advice or criticisms.
On the 4 hour there is a head and shoulder pattern that targets the 9000-9200 range. Volume is decreasing and there is a lot of resistance at the long term trend line, the neckline of the H&S, and also the Senkou A. So I'm doubtful that it has the strength to push through. The Kumo has also recently twisted bearish.
So this may just be a retest of the H&S neckline.
A bullish argument is that it looks like the MACD is about to crossover.
On the 4 hour there is a head and shoulder pattern that targets the 9000-9200 range. Volume is decreasing and there is a lot of resistance at the long term trend line, the neckline of the H&S, and also the Senkou A. So I'm doubtful that it has the strength to push through. The Kumo has also recently twisted bearish.
So this may just be a retest of the H&S neckline.
A bullish argument is that it looks like the MACD is about to crossover.
Kommentera:
Also not the recent kumo twist
Kommentera:
Price is now below the Kumo cloud