Break Out To The Downside

We have lots of signals popping of on all time frames! We have a great head and shoulders pattern forming on the 5 and the 15 minute charts! Price action is being rejected by the main pivot point level! I can see distinct railway tracks that formed right at the pivot point, which is significant! On the 30 minute chart we have a long trend line drawn, once price action starts to break it, that's a good confirmation of direction! The pivot point intersects with another resistance line, which makes that area supper strong! I can also see a somewhat of a double top, which formed right at a pivot point R1, found resistance in the form of an inverted hammer, and started to drop! On the 4 hour chart we have 2 distinct candlesticks, one is inverted hammer and the other is a spinning top, or a regular hammer. Both those candlesticks make a top right at a significant resistance level! I can also see that price action is within another resistance line on the 4 hour chart, which is confirming a move lower! The daily chart shows we are in a down trending Time!

Comentário:

Very important signal on the daily chart, We have a perfect spinning top forming right at a resistance line, which says prices are about to drop! We have a very long and important trend line that has already been broken, and price action formed this spinning top right on this line which is acting as resistance! Major triple top forming right at a resistance line, as soon as the 123 top formed, prices started to drop on the account of the 123 top! Even the weekly chart price action has broken an even longer trend line! Lots of signals to sell, and looks like for a while!