https://www.tradingview.com/x/1OvrwGAJ/
After K1 break up the neck line of a potential bullish head-shoulder pattern,
K3 tested the line for a first time,
It seems that the bull force had fully controlled the market,
And the supply pressure keeps at low level.
So, it is likely that another bull run had started weeks earlier.
The following candles should not return back below the neck line,
If K4 close below K3,
The risk will sharply increase.
Long-67388/Stop-66158/Target-72500
After K1 break up the neck line of a potential bullish head-shoulder pattern,
K3 tested the line for a first time,
It seems that the bull force had fully controlled the market,
And the supply pressure keeps at low level.
So, it is likely that another bull run had started weeks earlier.
The following candles should not return back below the neck line,
If K4 close below K3,
The risk will sharply increase.
Long-67388/Stop-66158/Target-72500
Note
K3 failed to close upon K2 under high volume,
It verified a potential hang-man pattern of K2.
It seems that the demands decreased and the bull force couldn’t accelerate here.
So, a consolidation or price correction is likely come up to take the price down to test the nearest support.
The first 4 hours of the day may provide more signals.
If the following candles close upon K3 or successfully retest the support,
It is still possible that the bull force will accelerate here.
If I had bought it earlier,
I will cut off at least half of my long positions to avoid the consolidation or price correction.
And I will try to buy back near the support.
Long-64.5K/Stop-63.2K/Target-73K
Note
From K1 to K3,
It is a potential bearish evening star pattern,
And the supply pressure increased.
The consolidation or a sharp price correction is likely on the way.
The problem for the bull force is lacking enough demands.
If the following candles fall to find enough demands near the uptrend line or 0.382fib line,
It is still valuable to buy it there.
Long-64.5K/Stop-63.2K/Target-73K
Trade closed: stop reached
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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.