Another level broken, this channel will continue, short hoping for exhaustion down. Thin stop above the resistance.
Flagging, long there, risk under the lows of this flag.
Long there, following the channel. Maybe a mid term play A-B-C. Risk under the lows (purple line)
Wait for a breakout and exhaustion of this channel, then a pull back to the congestion purple zone, will be a beautiful short.
Wedge ready to break out, taking it at the bottom.
PERFECT channel, going to break down. The rejection is too good not to work.
We have the first down trend channel (red), breakout to create a new lower high to create a new channel (purple), but that channel turns to be a descending triangle, usually breaking down. Obviously the triangle is broke to creat a new channel (yellow). The triangle has been retested. THEN, you take the high and the low of the triangle and you see that the EXACT...
When you see a new trend in formation, and the candle is at the exact point of the line of that new trend, there is lot of chances to see a reversal happening. Because of that I am long there, with a very thin stop.
When the candle breaks a channel in the way on the trend, we have great chances to see a strong reversal. Here this is what happened. After the exhaustion, we see a huge run down. It's not over because we have to break this channel. Short.
Float 29M 24M CASH NO DEBT NEWS
38% FIB + channel, it will be time to buy soon!
Are we ready for another down move?
Breakdown, short term channel, congestion level, I think it's now consolidation time.