Daily forming H&S
Green lines: bear flag , confirmed drop, and extended turned resistance.
Blue lines: Daily-Monthly fractals/ trendlines .
Purple lines: minor long term support
Yellow lines: major long term support
Shaded red area: Bear market panic zone
(dotted green line signifies my personal prediction from the hammer doji)
Notice the latest price action we have formed a funny looking H&S. This is the daily time frame indicating stronger possibility.
Also I have marked the beautiful hammer doji from previous days with green highlight (june 30). This was followed by days later a gravestone doji (july 8) contradicting action.
Finally the RSI currently forming lower highs, most recently being rounded out potentially signaling a fall.
Anybody looking for breakout confirmation should keep eyes on the yellow line, and where the green/yellow cross fractally around July 19 would be my personal best guess for a good jump into clear territory.
Regards,
Cucho
Blue lines: Daily-Monthly fractals/ trendlines .
Purple lines: minor long term support
Yellow lines: major long term support
Shaded red area: Bear market panic zone
(dotted green line signifies my personal prediction from the hammer doji)
Notice the latest price action we have formed a funny looking H&S. This is the daily time frame indicating stronger possibility.
Also I have marked the beautiful hammer doji from previous days with green highlight (june 30). This was followed by days later a gravestone doji (july 8) contradicting action.
Finally the RSI currently forming lower highs, most recently being rounded out potentially signaling a fall.
Anybody looking for breakout confirmation should keep eyes on the yellow line, and where the green/yellow cross fractally around July 19 would be my personal best guess for a good jump into clear territory.
Regards,
Cucho
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.