The 4-hour head and shoulders pattern has formed, signaling exhaustion for the bulls.

CN
1 year ago

Chenxinghui Strategy Tips:

4-hour top formation is established, indicating the possibility of the completion of an upward move; observe the strength of the retracement during the day. If it adjusts above the halfway point, it is a relatively good position for long entry. If it retraces below that point, bearish momentum still exists, so long positions should be approached with caution.

A downward trend is evident in the 30-minute timeframe, with a sell signal appearing on the rebound. A period of decline is expected in the 30-minute timeframe, so pay attention to the structure and strength of the decline.

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