Something seems fishy this week, would love to get another bearish structure confirm here with a 3rd LL H&S but odds are more split on this one.
Could just be retesting the Down Megaphone structure here and maybe the Bear Pennant tips before take off. Could just gap up over all the resistance and call it good lol. Could dump tomorrow. Could blow off top.
Watch for the pump and dumps, all these rolling tops are giving plenty of warning so far.
Breakouts should be equally clear.
Could just be retesting the Down Megaphone structure here and maybe the Bear Pennant tips before take off. Could just gap up over all the resistance and call it good lol. Could dump tomorrow. Could blow off top.
Watch for the pump and dumps, all these rolling tops are giving plenty of warning so far.
Breakouts should be equally clear.
Note
H&S case still alive but will need some time and reworking, so far Price Action still fractaling the topping pattern here...Note
Got a nice breakout there, almost certainly gonna test at least the top of 1.5Y Peak Channel now at 3932...Note
3923Note
Could be this topping fractal too...If it doesn't test the top of this channel afterall, that is pretty bearish.
Note
Here we go another break or rejection...Note
Oh damn, was too focused in, forgot about my Box fractal, that explains a lot...Note
Rejecting off this fractal and not having the strength to push through and hit the magenta fractal above it is not great for the bull case here.Note
It's still fighting for it though, lets see!Note
These gapups are losing steam, cash sesh can barely move the needle these days...Note
Gapping over this Box fractal and Magenta fractal would be dangerous and difficult, I don't think it's gonna happen unless we're gettin some beautiful blow off top.More likely we gap down to one of these nearby below fractals and take another shot at the Box. Second rejection would be another bearish double-top structure. Breakout above this point would likely have some running room.
Next two days are make or break.
Note
Long way down...
Data analyst with a passion for best fit lines B)
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Data analyst with a passion for best fit lines B)
Related publications
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.