SIMP. Waiting for the next swing low. SIMP .
The story: after it broke the resistance, the resistance has become a support. Now it retest the support. The last candle is a bearish candle with little wick/shadow/tail. It means minim rejection, or I assume there was no rejection. So, it potential break the support and go down to the demand area to pick up some volume before it bounch back. If it happened, it will be inverse head and shoulders pattern and we are looking for the next swing low to enter. That is 1st scenario.
The second scenario, bull power so strong in the next candle and break the swing high (HH). If this happened, we can enter soon after it breaks the HH.
I think, in my prediction, 1st scenario will going to happen. Any other point of view, guys? Please share with me. Thank you.
SIMP
SIMP in two perspectiveSIMP in the weekly timeframe looks like there are two patterns there. The first pattern is like a symmetrical triangle where the price has broken out of the triangle and will continue its rise. The second pattern is the bearish crab. The bearish crab is a harmonic pattern where the last rising phase can cross the previous 'previous high'. You can 'search' for other harmonic patterns, and currently there is a minor weakness which means there is a good opportunity to consider it.
#Disclaimer: Not a suggest to buy or sell