Either of the 2 scenarios will happen. There is an upcoming short opportunity for E/U. Either it has to break the top and go down. Or if it breaks the current trend, wait for a flag and go for short. But in the 2 nd case, it may give one more wave to break the top. so trading the second case should be with caution and should trail stops immediately.
This analysis is subjective and should not be copied. ;)
This analysis is subjective and should not be copied. ;)
Comment:
Perfect area for short. It has completed the pattern based on our analysis. The market can reverse strong from any point now. But remember, there is no specific point up to which the market goes high. So trade only based on confirmation and strategy. DO NOT blindly sell now.
Trade active:
Trade closed: target reached:
Little short of the target. But closed the position as it seems like a reversal/deep correction.