Long only will be possible if support at 8000 holds. (Strong psychological support)
In a bear market, the performance is about what you would expect from a countertrend breakout. Throwbacks occur in nearly two out of three trades.
Dope volume confirms the pattern
Interesting thing - on this pattern, BO on light volume performers better then heavy, if Bulkovskiy doesn't lie us.
Target = HH + HH-LL = 8600 + 8600 - 7200 = 9800
Biggest picture is inverted head and shoulders.
But 4H RSI still shows bearish divergence.
1H RSI shows hidden bullish divergence.
Trading Strategy: If i see it smashed 8000 level - i go short to 7000 level. If it holds and form fractal - i will go long to 9800
In a bear market, the performance is about what you would expect from a countertrend breakout. Throwbacks occur in nearly two out of three trades.
Dope volume confirms the pattern
Interesting thing - on this pattern, BO on light volume performers better then heavy, if Bulkovskiy doesn't lie us.
Target = HH + HH-LL = 8600 + 8600 - 7200 = 9800
Biggest picture is inverted head and shoulders.
But 4H RSI still shows bearish divergence.
1H RSI shows hidden bullish divergence.
Trading Strategy: If i see it smashed 8000 level - i go short to 7000 level. If it holds and form fractal - i will go long to 9800
Note
Short Trade active. Stop loss - 8200Trade closed: stop reached
Note
Note
This guy is awesome at his analysis and he can help us to understand how trade nowNote
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I will go short on break of this broadening wedgeNote
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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.