US30 Short IDEA - Multiple Time Frame Analysis

Looking at the 4hr I'm seeing 2 clear bearish signals a Bearish Rising Wedge can be seen ( Higher Highs, Higher Lows) and a Regular Bearish Divergence on the RSI. Break it down to the 1hr and a Head & Shoulders pattern can be seen, the right shoulder isn't 100% completed yet but this is my take on future price movement. On the 1 hr price can be seen pushing out of the Bearish Rising Wedge formation as well. Down to the 15m chart another pattern can be seen, the Pennant formation is a continuation of the trend, in this case would be the downward movement from the rejection of the Resistance. Currently hoping the 15m pattern holds and continues down to confirm my idea. My targets are the FIB Levels below.


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Commentaire:

The Pennant was a bust. I was aware that this was most likely going to happen but all other confirmations are still valid.