evening star is one of the powerfull japenese charting techinque .
1st day ndcale green
2nd day star + DOJI which shows buying pressure is reducing and
3rd day red candel penetrating in 1st candel showing selling pressure is taking over the buying pressure.
levels shown in chart
1st lag- hike from $1000 to $3000 mark followed by 50% retracement as shown in chart.
retraced level $1900
2nd lag- from $1900 to $4900 which was again followed by 50% retracement.
retraced level $3100
current lag from $4900 to $6590 but their is a negative convergence(see chart) which i believe can be the start of...
disclaimer: viewers are advised to trade at their on risk.
Positional trade steup
Btcusd formed a nice CUP & HANDLE pattern on hourly time frame.
breakout was confirmed with increase in volume & surpassing crucial pivot line.
buy @ 5810 - 5860
target 1 = 5999
target 2 = 6181
target 3 = 6419