Two setups here;
The first, a broken upward channel, broken to the downside. A short with a target of previous lows.
The second; a potential reverse head and shoulders (blue rectangles) which would suggest an upside movement. I would be waiting for a break of the descending trend line (dotted blue) before initiating a long position with a target of the longer term descending trend line.
The first, a broken upward channel, broken to the downside. A short with a target of previous lows.
The second; a potential reverse head and shoulders (blue rectangles) which would suggest an upside movement. I would be waiting for a break of the descending trend line (dotted blue) before initiating a long position with a target of the longer term descending trend line.
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Related publications
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.