A pennant is forming and normally this will indicate a breakout, but we are very, very high above the 50 day EMA.
This normally indicates a correction coming.
If we play the pennant, we should have a break out to about 1500 or 1600
If we play the EMA ... we should see a 10% correction.
So, as always, have stop orders ready and trade carefully.
This normally indicates a correction coming.
If we play the pennant, we should have a break out to about 1500 or 1600
If we play the EMA ... we should see a 10% correction.
So, as always, have stop orders ready and trade carefully.
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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.
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.