"Why am I shorting $POWER? Check this out:
• Bearish Engulfing: There is a long red candle that immediately 'eats' the previous green candles. Sellers are very dominant.
• Breakdown EMA: The price has just broken below the EMA 7, 25, and 99 simultaneously on the 1-minute timeframe. The short-term trend is broken.
• Volume Spike: This decline is accompanied by high selling volume. Confirmation that this is not just a minor correction.
• Reject Resistance: Failed to hold at the area 0.15195. Play it safe, ride the trend down.
#power #short
• Bearish Engulfing: There is a long red candle that immediately 'eats' the previous green candles. Sellers are very dominant.
• Breakdown EMA: The price has just broken below the EMA 7, 25, and 99 simultaneously on the 1-minute timeframe. The short-term trend is broken.
• Volume Spike: This decline is accompanied by high selling volume. Confirmation that this is not just a minor correction.
• Reject Resistance: Failed to hold at the area 0.15195. Play it safe, ride the trend down.
#power #short
