Big Short off retest
2020-01-24 07:23:22
On the Weekly - price action remains under a strong level of resistance and is still in a strong downtrend. I hope to see strong rejection of the upper resistance and a fall to at least the neckline of the weekly W-formation below.
A re-test of the resistance on the 4H/daily could put the price action within either a symmetrical or ascending triangle. it may also complete a Wolfe wave, which would provide a good short from the top, like with NZDUSD.
A potential long term TP for the weekly is the strong level of support on the orange support line. only time will tell.