About to complete a 4H bearish engulfing candle after breaking the 2 years July 10th 2019 high and falling back. This false breakout can be considered the UTAD of a wickoff distribution range. There is also deep bearish divergences on the 4H. This lead to the conclusion of a top formation and a reversal.
Targets can be as deep as the 12K region which is in confluence of the bottom of the 4H ichimoku cloud and the 4H 200ema.
Targets can be as deep as the 12K region which is in confluence of the bottom of the 4H ichimoku cloud and the 4H 200ema.
