We have identified a strong ABCD pattern on 
ROSEUSDT, indicating a bullish trend in the short-term. However, I wouldn't rely on this pattern alone.
The stochastic RSI suggests that we are currently oversold, which checks out because we are indeed testing the support line in the middle of our current uptrend.
Additionally, the MACD tells us that bullish momentum is still standing strong. This in combination with the stochastic RSI being oversold tells me that we might see a run to the upside very soon, which would confirm the ABCD pattern.
What are your thoughts?
ROSEUSDT, indicating a bullish trend in the short-term. However, I wouldn't rely on this pattern alone. The stochastic RSI suggests that we are currently oversold, which checks out because we are indeed testing the support line in the middle of our current uptrend.
Additionally, the MACD tells us that bullish momentum is still standing strong. This in combination with the stochastic RSI being oversold tells me that we might see a run to the upside very soon, which would confirm the ABCD pattern.
What are your thoughts?
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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.