I was originally expecting price to be range bound, however, there are a couple of bearish patterns that were staring me right in the face after the price action the last 3 days.
1) Head * shoulder - the two shoulders have now formed, despite them being relatively small.
2) M -top - this double top is very distinct, but I'll caveat that before the most recent down-trend, there was arguably a W pattern.
Bull case: See the wick? It touched the down-trend line and exploded upward ,a clear rejection from the previous path. Therefore, even if we take another down-trend from here, it will not fall into the previous trend.
Therefore, I have no case here. The best trade here is to short from a clear break from the neckline OR buy long above the "right shoulder". Scalpers should love the volatility should it consolidate.
Good luck all - cheers.
1) Head * shoulder - the two shoulders have now formed, despite them being relatively small.
2) M -top - this double top is very distinct, but I'll caveat that before the most recent down-trend, there was arguably a W pattern.
Bull case: See the wick? It touched the down-trend line and exploded upward ,a clear rejection from the previous path. Therefore, even if we take another down-trend from here, it will not fall into the previous trend.
Therefore, I have no case here. The best trade here is to short from a clear break from the neckline OR buy long above the "right shoulder". Scalpers should love the volatility should it consolidate.
Good luck all - cheers.
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פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.