Sorry to say .. the pattern is clear as day ( maybe a bit to clear ).
Lower highs for the last 6 months indicates bullish weakness.
Target of this descending triangle is sooo deep I will not even entertain it yet but a break down would put us under 4K easy.
Be safe !
Lower highs for the last 6 months indicates bullish weakness.
Target of this descending triangle is sooo deep I will not even entertain it yet but a break down would put us under 4K easy.
Be safe !
Nota
Ok - things start to align well .. Just need shorts to finally capitulate and maybe a 'cherry-on-the-top" nice bearish div. and we are set to finally break the 6K support once and for all.
Nota
Ok : Finally Shorts have capitulated and are dropping.Things are almost perfectly lined up !
Nota
Never got the Longs into the game and as expected - not dumping. We might see that 6980 after all it seems.
Been only scalping this range - no real positions commitment yet.
Original Idea still stands:
6900-ish is a short until:
- a clear break of the bear trend as invalidation ~ 7400 +
- or original short target as taking profit area ~ 4800
Good luck
Nota
Took way longer than anticipated - even if the target hits I will still view this trade idea as a failed one. Timing is as important as entry. For continuation purposes: The same targets remain - I expect us to backtest the triangle breakdown levels before going to sub 5K.
Good luck!
Nota
Ok - Blue box hit ..
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.