Double Bottom on longterm strong support and curve upward creating new channel
I was offline for some time but now back in the sadle In for small trade feeling the vibes
This trade seems to form conflicting patterns Bear Flag indicating downward movement Flat Top Wedge indicating possible break out to the top side Whats everyone opinion Should be interesting to see how it unravels
Daily TF Upside Down Head Sholders neckline broke out and now formed Retrace in the 1HR TF with Bear Flag inside Retrace Pattern indicating more downside
Double Top formed on daily chart- short position on break of neckline Cup and Handle retrace being formed to the right of double top Massive down trend in the making
Would this be considered a valid cup handle pattern analysis as its on 1hr chart, or is the cup handle theory more valid on higher time frames OR Will this be a bear trap....or fishing hook and bait
Breakdown in play First target Neckline Second Target Neckline break = distance 3rd target ride the wave 10 fathoms down bubble
Trump to announce new Fed Chair might cause disruption uncertainty in the $..... Tax reform to be announced.... Busy day for the $ in Economic Calendar.... Gold Strengthening....
Food for thought everyone expecting reversal but in fact could be set up for strong uptrend to complete wave 5 scenario watch carefully price action around the supports and resistance of fib levels How to beat the market is to have an edge ...
Target is to identify all the variants Several Plays can be observed Step back and see how it unravels then get into the action
UC Loosing bull strength Expecting 1 more strong rally up forming double top prior to strong rally down forming reversal OR reversal already in the making