xauusd - short (cup and handle)
(1h timeframe)
DETAILS: after a strong uptrend the price made all time high , at the daily time frame we can see at the top (at the all time high) evening star (bearish reversal candlestick pattern) .
The price entered in a strong support and resistance lines (the two yellow ones) , I noticed that the price made inverse cup and handle pattern and broke with big bearish candle the support line (the volume is not that strong) .
we have all the signs that we are before a downtrend.
I have drew the white rectangle as a support areas that can disturb the price a Littleton keep going down.
DETAILS: after a strong uptrend the price made all time high , at the daily time frame we can see at the top (at the all time high) evening star (bearish reversal candlestick pattern) .
The price entered in a strong support and resistance lines (the two yellow ones) , I noticed that the price made inverse cup and handle pattern and broke with big bearish candle the support line (the volume is not that strong) .
we have all the signs that we are before a downtrend.
I have drew the white rectangle as a support areas that can disturb the price a Littleton keep going down.
Note
if someone has another analysis I would be glad to hear itOrder cancelled
the price didn't got to the enter price
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.