These patterns are usually continuation patterns.
So the most likely scenario is a breakdown from here.
However the OB V seems to be bottomed out, and bulls
could take over here, resulting in a bear trap. This scenario
would be bullish and the target would be the upper resistance
illustrated. Breaking down here and we will see substantially
lower prices.
So the most likely scenario is a breakdown from here.
However the OB V seems to be bottomed out, and bulls
could take over here, resulting in a bear trap. This scenario
would be bullish and the target would be the upper resistance
illustrated. Breaking down here and we will see substantially
lower prices.
Note
Everything is looking weak right now. Staying out of the markets for now.
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.
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.