Hi friends, I hope y'all having a profitable week ;)
Today, we're looking at a possible long-term bearish drop. This trade idea is derived from this time frame only. The monthly is in a process of fully confirming it with a bearish reversal candle pattern formation. Having one time frame confirming a long-term signal, gives me an A- signal; if both the monthly and weekly confirmed the signal, that gives me an A+ signal. In this situation, the weekly is the only time frame. And that makes this trade idea a high risk one. With that said, let us take a look at how this trade triggered and how it will be dis-confirmed.
Bulls: -If the price bullish breaks and retests the Mini Weekly Neckline 2 and 8 m.a, that will dis-confirm the trade but it will trigger a medium-term buy signal that will lead to a rally to the monthly bullish key level targets that were previously bearish broken and not retested during the huge crash. I posted the trade idea of that signal last week when the price broke and closed in between the short-term m.a's (they play a huge role in confirming a signal).
Bears: -The price bounced off the Mini Weekly Neckline 2 with a bearish reversal candle pattern that led to a bearish break and retest of the 8 m.a, and that triggered the sell trade that will probably lead to a drop for the double tops L3. I call this type of trade signal a "Double Top C-E.1 signal".
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts!
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.