By no means something I am betting on just yet - just a possible scenario I saw whilst planning a recent lesson. Would be interesting if this broke down due to demand exhaustion since this bull run has been quite rapid. Not trying to insinuate this will be the top of this bull market but could serve as a local macro top with maybe a more macro (25-50%) pullback before continuation or reversal.
Comment
⋅
- Ascending wedge broke-out to the downside - Secondary descending triangle forming - Possible continuation towards more macro correction levels - Invalidation = Double 4H closure above 58400
Comment
⋅
Bearish control zone looks to be strong with a volatile rejection. Great lil scalp.
Trade closed: target reached
⋅
All targets met with a beautiful test of the 100% extension.
impossible to go down that fast now it would pump on the way down still
mikas_h
⋅
@thedarklord369, For sure it could bounce along the way at multiple levels. Just a scenario to keep in mind. I'm still macro bullish but this has been the first possible bearish scenario I've seen since this bull-run began.