First resistance will be bottom of the horizontal channel then purple line. We've wicked and closed above the purple support line. We will see once ocsilators reset if we hold support.
We have seen 3-4 different patterns in the horizontal channel that were simultaneously trying to play out.
In horizontal channel (continuation)
-Ascending triangle (Bullish)
-Inverse H&S (Bullish)
-H&S (Bearish)
-Double Top (Bearish)
I believe the double top at 2.05 sealed the bearish down break we've seen and couldn't get back out there for a 3rd touch at 2.05 and capped out at 1.86
Comment idea below.
We have seen 3-4 different patterns in the horizontal channel that were simultaneously trying to play out.
In horizontal channel (continuation)
-Ascending triangle (Bullish)
-Inverse H&S (Bullish)
-H&S (Bearish)
-Double Top (Bearish)
I believe the double top at 2.05 sealed the bearish down break we've seen and couldn't get back out there for a 3rd touch at 2.05 and capped out at 1.86
Comment idea below.
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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.