Did you know this market geometry, symmetry:
When a (strong) trendline is broken, the market will fall equal distance or more from the trendline as from the peak to the breakpoint. I have shown example of Nasdaq from the past.
This is also true for the reverse, a falling trendline break can predict the upside target
Hope this is useful in your trading
What it means is you might see a small upside from here, but since its already broken the trendline, it will trap the buyers and then do a hard U turn to the downside. I would wait for a bullish pattern to develop before going in long. Be careful of traps!
When a (strong) trendline is broken, the market will fall equal distance or more from the trendline as from the peak to the breakpoint. I have shown example of Nasdaq from the past.
This is also true for the reverse, a falling trendline break can predict the upside target
Hope this is useful in your trading
What it means is you might see a small upside from here, but since its already broken the trendline, it will trap the buyers and then do a hard U turn to the downside. I would wait for a bullish pattern to develop before going in long. Be careful of traps!
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.