Sony Crab Pattern reinforced by a Cup and Handle
So here we see a crab pattern on Sony's monthly charts, for you long-term traders. As you can see, the pattern completes and thus the reversal is in action. After 8 months, we see a retracment to the .500 fib. all rules continued as the market resumes trend and rally's to the 1.618 extension of the cup. It appears that the market will begin to consolidate in the previous high of the crab pattern, in which case i would buy a Put option , but if the market continues the crab pattern, it should rally to the next structure high around $55.80. Keep an eye on this on, if it passes the reversal zone and previous structure highs, BUY. Please like comment and follow :) Good Trading
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