NOT A FINANCIAL ADVISOR!
I am not yet convinced that about this breakout.
Awaiting for a confirmation whether this is a fakeout or a real breakout!
In fact, if this is a simetrical triangle that broke down, the lack of volume does not confirm this break out!
I believe that another possible structure would be a descending triangle.
As the current candle close did close below the previous low (30 May), a descending triangle is actually a possible structure.
Having the death cross in the next coming days, expect anything ... (check the price action upon a death cross).
I am not yet convinced that about this breakout.
Awaiting for a confirmation whether this is a fakeout or a real breakout!
In fact, if this is a simetrical triangle that broke down, the lack of volume does not confirm this break out!
I believe that another possible structure would be a descending triangle.
As the current candle close did close below the previous low (30 May), a descending triangle is actually a possible structure.
Having the death cross in the next coming days, expect anything ... (check the price action upon a death cross).
Note
Regardless of which triangle really makes sense here...the break down is undeniable.Note
Broadening wedge? :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.