A Bearish Doji Star pattern is potentially forming on MWIDE as it hits the resistance zone. This is considered a bearish reversal pattern/signal but still requires confirmation. A confirmation of this pattern will likely lead to a pullback or consolidation. Potential retracement targets are indicated on the chart.
*Resistance zone at 9.6 ~ 10.1
*Immediate support at 9.0 (around 23.6% retracement, considered a shallow pullback level)
Trading Plan
- Scale down position
- Or take profit on bearish pattern confirmation
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