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:
Bearish control zone looks to be strong with a volatile rejection. Great lil scalp.
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.
- Secondary descending triangle forming
- Possible continuation towards more macro correction levels
- Invalidation = Double 4H closure above 58400