I’m seeing this pattern time and time again. It doesn’t guarantee it’ll play out but here’s what it looks like:
- sharp drop into support
- define range below sharp drop
- break out of range towards OB from drop
- break back into range and then...
- DUMP
Again, not guaranteed but one to watch. Expecting a slow burn up before the dump commences. Entering short at OB, may wick above, will add upon re-entering range.
- sharp drop into support
- define range below sharp drop
- break out of range towards OB from drop
- break back into range and then...
- DUMP
Again, not guaranteed but one to watch. Expecting a slow burn up before the dump commences. Entering short at OB, may wick above, will add upon re-entering range.
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Disclaimer
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.