Idea on vet and bias confirmation.
So,
earlier today we posted a small update with a bearish short term projection for our beloved VET. I wanted to present a small addendum with a different bias, drawn on a larger timeframe.
Why?
We want to consider multiple scenarios to confirm or falsify or bias either up or down. As you can see in above chart, a bullish projection on larger timeframes is still in play as of today. However, it can be observed that we are currently testing the bottom of that channel, and it would require a large move up to stay in around the median trendline. If this doesnt happen, and the price breaks out downwards of the channel, we can invalidate our bullish theory and add it to our bearish argument.
Hope this was helpful!
earlier today we posted a small update with a bearish short term projection for our beloved VET. I wanted to present a small addendum with a different bias, drawn on a larger timeframe.
Why?
We want to consider multiple scenarios to confirm or falsify or bias either up or down. As you can see in above chart, a bullish projection on larger timeframes is still in play as of today. However, it can be observed that we are currently testing the bottom of that channel, and it would require a large move up to stay in around the median trendline. If this doesnt happen, and the price breaks out downwards of the channel, we can invalidate our bullish theory and add it to our bearish argument.
Hope this was helpful!
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.