Quite possibly the ugliest flag pole formation I've ever seen. Ruled out it being a head and shoulders due to it not retesting the October lows. The wedge's trendlines have enough touches and rejections to convince me of its presence. TUNNEL VISION/LONG TERM BIAS: BUYS
The monthy timeframe hints at a bullish run, the weekly and the daily forms what seems to be a potential supply/demand zone. While the 4H chart reveals what is a 3 month consolidation at this level. For now based on the structure of the hourly chart, I'm learning towards short term sells given the strength of this level previously as well as the candlestick...
A better look at this wedge obeys Elliot Wave principles, all we need is a double top at would be 5.
As this wedge tightens and runs out of space, we can expect a downturn soon.
Triangles, wedges, channels and a whole bunch of headaches. The overall trend seems bullish.
Expecting a bullish wedge breakout. Currently testing weekly trendline.
Trendline seems to be holding firmly. A bullish move should be coming next.
Could not make a clean break from the record highs level.
Exhausted wicks. Heavy consolidation. The bulls might get their turn however it is likely that it will be short lived.
There are 3 possible areas for a buy entry, one of these trendlines may be that point of entry.