Google has been trading inside Huge longterm Uptrend channel however this is all based on monthly candles so WAIT FOR MONTHLY CANDLE CLOSE!!
this is a long term analysis & smaller timeframe moves won't affect it, we have been in an uptrend since 2012 after breaking out of multiyear ascending triangle, now we are looking at a possible Double top on monthly chart also a Bearish Shooting star candle close
Double Top :-
If we does create a double top & have bearish candle close then I expect a deep correction at least to 0.618 Fib level mentioned on the chart (Orange box)
we surely will have a bounce from there either to continue upside or reject down to much lower towards the Green Box.
As I said in beginning this is a Multiyear trading idea so this should only concern to SWING TRADER & INVESTORS!
Will keep updating timeline as we have more PA.
this is a long term analysis & smaller timeframe moves won't affect it, we have been in an uptrend since 2012 after breaking out of multiyear ascending triangle, now we are looking at a possible Double top on monthly chart also a Bearish Shooting star candle close
Double Top :-
If we does create a double top & have bearish candle close then I expect a deep correction at least to 0.618 Fib level mentioned on the chart (Orange box)
we surely will have a bounce from there either to continue upside or reject down to much lower towards the Green Box.
As I said in beginning this is a Multiyear trading idea so this should only concern to SWING TRADER & INVESTORS!
Will keep updating timeline as we have more PA.
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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.