**DISCLAIMER**
DO NOT TAKE THIS AS A BUY OR SELL SIGNAL. THIS IS MY VIEW FOR THE MARKET!
Hi everyone,
As you can see on the chart, there might be a possible ABCD pattern going on. Not only that, there also was a double-top spotted!
Before we go into the possible ABCD pattern, i want to take a look at the support that became a resistance later on. It spiked back to the previous top, which formes a double-top! So, support became resistance. That gave me a clear reason to think it might go down further! So why do i want to short at the resistance level? Because that was previous support. Support becomes resistance remember! The resistance level is also close to a 61.80% fib retracement level! Cool right? ;)
To make things clear and short: It might go a little bit above my short order but, i dont see any reason to "panic" then. Because it needs to break the 100% fib retracement level, and ofcourse: HIT MY STOP-LOSS. I don't want to make this analysis description any longer, let the picture further speak for itself :)
(This is just the paper-trading. I do not invest real money in this trade!)
Once again, do not take this as a buy or sell signal. If you do, i am not responsible.
Thank you for taking your time. If i made a mistake, drop a comment with a argument. If something is unclear to you, or if you have any questions left, please drop a comment too :)
StenB.
DO NOT TAKE THIS AS A BUY OR SELL SIGNAL. THIS IS MY VIEW FOR THE MARKET!
Hi everyone,
As you can see on the chart, there might be a possible ABCD pattern going on. Not only that, there also was a double-top spotted!
Before we go into the possible ABCD pattern, i want to take a look at the support that became a resistance later on. It spiked back to the previous top, which formes a double-top! So, support became resistance. That gave me a clear reason to think it might go down further! So why do i want to short at the resistance level? Because that was previous support. Support becomes resistance remember! The resistance level is also close to a 61.80% fib retracement level! Cool right? ;)
To make things clear and short: It might go a little bit above my short order but, i dont see any reason to "panic" then. Because it needs to break the 100% fib retracement level, and ofcourse: HIT MY STOP-LOSS. I don't want to make this analysis description any longer, let the picture further speak for itself :)
(This is just the paper-trading. I do not invest real money in this trade!)
Once again, do not take this as a buy or sell signal. If you do, i am not responsible.
Thank you for taking your time. If i made a mistake, drop a comment with a argument. If something is unclear to you, or if you have any questions left, please drop a comment too :)
StenB.
Dagangan aktif
Hit my short-order. Let's see how this turns out!Dagangan ditutup: hentian tercapai
Hit my stoploss :(
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.