Re evaluation of case study 11 where are we
Question was asked is this just another fake.
Well it's not a fake but just a normal movement
I quez being over focused on pendands and what not I missed the most basics of rules
Are we trending or ranging
WELL PEOPLE WE ARE RANGING
what does this mean all T. A Conserning adx is out of the window
We need to look at the rsi only or stochastic
Because we are in a box range
If we look at all areas where a drop was confirmed we see the Rsi is over bought confirming the resistance level.
What makes a box range valid
You need atleast 3 highs and 3 lows at the approximate same level for it to be valid
And we are seeing this here
So the changes of a pullback is high at this level
We already seeing that the break out on the head and shoulders pattern was not that strong and we have a pullback under the neckline not a bounce up to higher levels.
So if you have a buy trade in I would say be café full
Or close and take profit.
If I'm wrong and we see further break out we can always re enter
SO KEEP SAVE GUYS TRADE SAVE
Well it's not a fake but just a normal movement
I quez being over focused on pendands and what not I missed the most basics of rules
Are we trending or ranging
WELL PEOPLE WE ARE RANGING
what does this mean all T. A Conserning adx is out of the window
We need to look at the rsi only or stochastic
Because we are in a box range
If we look at all areas where a drop was confirmed we see the Rsi is over bought confirming the resistance level.
What makes a box range valid
You need atleast 3 highs and 3 lows at the approximate same level for it to be valid
And we are seeing this here
So the changes of a pullback is high at this level
We already seeing that the break out on the head and shoulders pattern was not that strong and we have a pullback under the neckline not a bounce up to higher levels.
So if you have a buy trade in I would say be café full
Or close and take profit.
If I'm wrong and we see further break out we can always re enter
SO KEEP SAVE GUYS TRADE SAVE
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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.