The recent 30-minute bullish gap puts the market in a bullish scenario. Given this data, the breakage of the triangle that has formed is more balanced upwards. The pattern creates the trigger.
The pace of the price has been declining in recent days, coupled with the fact that it is in the support of the daily channel and the recent triangle break.
Shoulder head shoulder pattern in AUDCAD.
The broken trend indicate the change of paradigm in the market. A little rally arises before the fall.
A recent breaking channel has set this stock in a oversell scenario. The bullish pattern confirms the future upward movement.
Look inside for more information and setup
Some indications are highlighted in the analysis. The conclusion is to SELL.
PREDATOR'S INTRADAY SERIES: - 1 YEAR LENGHT RESISTANCE BECOMES SUPPORT - BULLISH HAMMER DOJI - BROKEN TRIANGLE, A RETRACEMENT IS EXPECTED First rule is not to trade against trend. However, a good number of indications support the idea that a retracement can happen, hence buying options short term is a good choice.
A recent development of market cap indicates a downside movement
Short term setup. Triple botton/head and shoulder pattern
Very overbought, also a shooting star indicates demand has reached its peak