Hi
As you know, over the past few days, the price broke the range area and moved up.
As breaking up the range, the first thing that comes to mind is that the price rupture accumulation range and the price will go up.
But I think some signs show we should be cautious in this case. In my opinion, this breakup can be intentional, and it is not original.
I explain here this indicates:
1- After breaking the range, the price could not keep itself above the range and did not re-enter the range: it shows the price has the interest to reenter the range, And big traders do not support the trend
2- decreasing in volume after the breakup: it shows the lack of strength in the trend.
3- The short distance moved by the breakup
4- No test on the creek: there is not any test after the breakout.
As you know, over the past few days, the price broke the range area and moved up.
As breaking up the range, the first thing that comes to mind is that the price rupture accumulation range and the price will go up.
But I think some signs show we should be cautious in this case. In my opinion, this breakup can be intentional, and it is not original.
I explain here this indicates:
1- After breaking the range, the price could not keep itself above the range and did not re-enter the range: it shows the price has the interest to reenter the range, And big traders do not support the trend
2- decreasing in volume after the breakup: it shows the lack of strength in the trend.
3- The short distance moved by the breakup
4- No test on the creek: there is not any test after the breakout.
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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.