Short
VEN Due for Retrace
Sold VEN and looking to possibly add back in the green box:
1) Has hit a resistance level which is the top green box where a potential 4H chart Cup and Handle is in play
2) RSI standard bearish divergences on the 1H and 4H time frames
3) This candle was also a third test of the top bollinger band and the chart looks a bit topped off
Target:
1) Bottom of Ichi cloud on 1H
2) Would form a bullish continuation divergence as well as a Kijun touch on the 4H timeframe
3) Also would be a good spot for the 4H Cup and Handle to begin playing out into the Handle
Not Financial Advice. DYOR.
1) Has hit a resistance level which is the top green box where a potential 4H chart Cup and Handle is in play
2) RSI standard bearish divergences on the 1H and 4H time frames
3) This candle was also a third test of the top bollinger band and the chart looks a bit topped off
Target:
1) Bottom of Ichi cloud on 1H
2) Would form a bullish continuation divergence as well as a Kijun touch on the 4H timeframe
3) Also would be a good spot for the 4H Cup and Handle to begin playing out into the Handle
Not Financial Advice. DYOR.
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