The flag pattern in the major time frame did not succeed. Instead of breaking below the 3295 price level, the price was rejected at the top of the descending channel. Looking back, I now interpret this as a leading diagonal that initiated an uptrend. After reaching the previous high at the 3435 price level, a rising wedge pattern has formed. On the smaller time frame, there are shorting opportunities. Long opportunities may appear when the price hit the uptrend line.
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.