There's a confluence of structure here that supports the likelihood of a reversal.
1) trend resistance
2) (bear) pennant
3) At this price level, around R2 weekly pivot. there have been reversals in the past (see left)
If we get a break of this pennant structure, short this all the way down so monthly S1 which seems to act like a magnet.
1) trend resistance
2) (bear) pennant
3) At this price level, around R2 weekly pivot. there have been reversals in the past (see left)
If we get a break of this pennant structure, short this all the way down so monthly S1 which seems to act like a magnet.
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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.