Lets see what the price action will tell us.
Lets see if the price will do the following =)
We are at the decision point which will go into next week. Long or short - pretty sure next week we can get involved in big moves
Looks like the great spot to get long. Lets see.
If flag gets brake out to the upside I will take it as short term trade as we went under monthly trend line. Doesn't mean we are going down, however if bounce happens it will confirm more move down.
Expecting a brake out and move down to the trend line. First TP would be at the structure level.
Hello Traders, Looking into potential short opportunity: 1) Daily Butterfly compilation 2) Oversold on indicators 3) Potential Cypher formation (formation should be done in reversal zone which also crosses with butterfly Target 2 zone) 4) Great risk/Reward ratio.
Great risk reward ratio, we are in the resistance zone+overbought RSI, let see how it goes
Potential brake out opportunity + Resistance + overbought RSI If not than we will be watching price in the red brick
Hello Traders, We have two potential patterns forming here. We are not oversold or overbought yet. Need to wait for the price action to show us what it will do. The red stop loss zone also know as "potential reversal zone" I would watch for price action at those spots. 1) Butterfly to upside. 2) Bat to the downside.