Watch for that support area as indicated by the trendline. This thing likely is breaking to the down side.
Chart pattern shows that setup will have a somewhat chance of playing out this way, with a few bounces off the support and then breaking, as liquidity floods in later in the london/NY session
Chart pattern shows that setup will have a somewhat chance of playing out this way, with a few bounces off the support and then breaking, as liquidity floods in later in the london/NY session
Note
time is getting close. Start preparing to get in. Or if you are an early bird like me, I am already tring to fade the top with a limit order to short at the top of the current range.Note
correction: upon further analysis, do not short the tops. The top is uncertain. I took off my limit order for fading the top. Do not fade this top because there is a chance that we can see a decent surge higher. TLDR: Do not fade this top. It is not ready for fading.
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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.