bearflag expands ; are we looking at another descending wedge?

28 במרץ 2018

For now I stay neutral because sure there's plenty of bearish signs in the market but there is also what appears to be another smaller fractal like descending wedge pattern forming as I have indicated here with the light tan trendlines...These patterns are pretty bullish and Haejin Lee also hypothesized after the last descending wedge that we would rise up and former a smaller fractal of that descending wedge which is kind of what it appears we are potentially doing...of course if this bear flag decides to break bearishly then the potential of triggering a massive head and shoulders that could send us to 5100-5400 is possible...but if we don't confirm a bearish break below this wedge we might instead see a nice bullish break upward to subvert the bearish head and shoulders....Head and shoulders can often be tricks for example the last descending wedge was hidden inside a fake head and shoulders....this could once again be the case....we are sitting at a pivotal moment of limbo where the side it breaks on will determine a big fall or rise. Be careful tread wisely and make good decisions...this is not financial advice. Lastly based on the recent two candles having a trendline that connects them we can expand the ebarflag and see that it likely hasnt been broken yet and is instead bigger than we had originally seen wich happens alot with flag patterns.