Quad Top In Play . . .
Caught this aggressive short just before i could no longer keep
my eyes open so I did not publish. This 4th try to break the top
reminded me of W D Gann who said something to the effect that
when a 4th attempt to make a new high/low trade in the opposite direction.
If it does break to new highs or lows go with the trend.
Short from 1.52745 with low risk stops on the huge divergence in RSI.
At the least looking for a return to the bottom of the channel that
has formed and even beyond to a measured move. Of course,
it is not a complete double top until it breaks the bottom of the channel
around 1.5066.
Should this play out it will probably take several days and should offer
opportunities to participate and/or add more position size.
(wish I had published this: now it just looks like I'm bragging ~~~)
my eyes open so I did not publish. This 4th try to break the top
reminded me of W D Gann who said something to the effect that
when a 4th attempt to make a new high/low trade in the opposite direction.
If it does break to new highs or lows go with the trend.
Short from 1.52745 with low risk stops on the huge divergence in RSI.
At the least looking for a return to the bottom of the channel that
has formed and even beyond to a measured move. Of course,
it is not a complete double top until it breaks the bottom of the channel
around 1.5066.
Should this play out it will probably take several days and should offer
opportunities to participate and/or add more position size.
(wish I had published this: now it just looks like I'm bragging ~~~)
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.