The bearish evidence is not there YET
For a downtrend, we are looking for the evidence of bearish signals:
Bearish hanging man, bearish engulfing, bearish harami, shooting star, dark cloud cover, doji/evening star. bearish abandon baby,etc
In the 4H chart on the left, none of these bearish signals appeared.
Also, from the price action there is no Lower High (LH). Why do we so worry about the double / triple top atm?
Conversely the daily chart, price actions are above cloud. There is no DI crossover signal yet. If the ADX is below the 20.00 level, price is in a range or in a very weak trend.
Nothing to be over-worried. Why not consider a bullish breakout instead?
Bearish hanging man, bearish engulfing, bearish harami, shooting star, dark cloud cover, doji/evening star. bearish abandon baby,etc
In the 4H chart on the left, none of these bearish signals appeared.
Also, from the price action there is no Lower High (LH). Why do we so worry about the double / triple top atm?
Conversely the daily chart, price actions are above cloud. There is no DI crossover signal yet. If the ADX is below the 20.00 level, price is in a range or in a very weak trend.
Nothing to be over-worried. Why not consider a bullish breakout instead?
Komen:
What a nice breakout !