On the daily version of this chart, there is a clear M pattern, movement down, and we retraced ALMOST to the apex of the M, but there's a clear $100 gap.
Seeing as the 4 hour is showing some bullish signs; i'm wondering if we don't fill that gap as a sort of fake out to the upside; before continuing down.
Let's see.
Seeing as the 4 hour is showing some bullish signs; i'm wondering if we don't fill that gap as a sort of fake out to the upside; before continuing down.
Let's see.
Note
I don't have enough reputation points to post the image of the daily chart, showing the gap... but here it is:/x/GT4K4Llz/
Trade closed: target reached
This used the momentum of the M formation to shoot straight up.The long trade was valid; just way short on the potential profitability.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.