Inverse parabola on QNT/USD
1) RSI forming descending wedge
2) anticipating CMF to cross zero line
3) price being squeezed into an inverse parabola
We should see a relief rally soon.
1) RSI forming descending wedge
2) anticipating CMF to cross zero line
3) price being squeezed into an inverse parabola
We should see a relief rally soon.
Note
Looks like a successful "breakout" and retest. In this case it's just a break of the parabola, which to me, signals a bottom.Note
Here's a similar setup on BTC - It's possible we may double bottom. Note the divergence after this pattern, the breakout, and double bottom. Something similar could play out on QNT, OR we could just make a higher low and recover. Note
a break of the RSI resistance (blue line) will be my final confirmation: Note
Note
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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.