The asset is operating within a long-term uptrend channel.
The medium-term setup appears to be an inverted H&S (Head and Shoulders) pattern. Currently, consolidation is taking place, and soon we might be witnessing a breakout, potentially aiming to retest the top of the uptrend channel.
Thank you!
The medium-term setup appears to be an inverted H&S (Head and Shoulders) pattern. Currently, consolidation is taking place, and soon we might be witnessing a breakout, potentially aiming to retest the top of the uptrend channel.
Thank you!
Note
After some time, the consolidation pattern has taken the form of a triangle. I'm waiting for a pullback to its base once again; a breakout from here may have a significant chance of being a very straightforward trap. Note
It happened.I don't feel comfortable with this rejection pattern. I've seen it happen quite a bit across different time frames; it's pretty common. I'll keep an eye out for a potential break of this triangle to the downside; the selling pressure is still strong.
Note
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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.