Hey guys!
Here we have a textbook example of a rejection candle. We can expect lower prices based on this week's closing price.
WEEKLY: Bullish, with gradual continuation
DAILY: Bearish, signal for lower prices to come
1-4H: Bearish engulfing pattern, lower prices to come
I will fill in short positions and wait for a test of trendline and after succesfull break a test of the first fib level. This is not yet a trend reversal but a minor correction. Expecting lower prices also due to some fundamentals as there were some EU credit agreements made for the Frank which in term means that Frank index will fall.
Have a great week!
Here we have a textbook example of a rejection candle. We can expect lower prices based on this week's closing price.
WEEKLY: Bullish, with gradual continuation
DAILY: Bearish, signal for lower prices to come
1-4H: Bearish engulfing pattern, lower prices to come
I will fill in short positions and wait for a test of trendline and after succesfull break a test of the first fib level. This is not yet a trend reversal but a minor correction. Expecting lower prices also due to some fundamentals as there were some EU credit agreements made for the Frank which in term means that Frank index will fall.
Have a great week!