We have developed a 4H Falling Wedge hanging off of the "broken" parabola
Nice confluence here with a run up to 9200 based off of the prior measured move and the R3 on the 4H
Would also be a possible back-test of the underside of the parabolic move - If there is large bearish rejection here, a blow off top could easily follow
Everyone is expecting a retrace here, so there's a good chance it won't happen
Nice bullish test of the R1 with daily close incoming and nearing the tip of the FW
Will be watching the R2 at 8300 for a possible double top if rejected
Nice confluence here with a run up to 9200 based off of the prior measured move and the R3 on the 4H
Would also be a possible back-test of the underside of the parabolic move - If there is large bearish rejection here, a blow off top could easily follow
Everyone is expecting a retrace here, so there's a good chance it won't happen
Nice bullish test of the R1 with daily close incoming and nearing the tip of the FW
Will be watching the R2 at 8300 for a possible double top if rejected
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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.