hello everyone ...
first of all this is not a financial advise ..
but i have spotted a descending Abcde triangle on 4h time frame ..
well since i do Elliot wave analysis i do believe that we could see a retest for 18-19k ish areas .. however, things might be changed if this pattern played out and hit his targets as of the above chart .. between 14-15k ish areas ... and then we can finish the wave 4 to the upside 18-19k after that i will update wave 5 that should be downside to 11-12 k ish areas this is what do i believe
A descending triangle is a bearish price pattern that occurs in a downtrend, and signals that the bearish trend will persist. Still, in some cases, a descending triangle may appear as a reversal pattern at the end of a bullish trend. Nevertheless, it remains a bearish pattern regardless of the previous direction of the trend.
FYI : IF E LEG BEEN BROKE UPSIDE THEN THE PATTERN IS INVALID
first of all this is not a financial advise ..
but i have spotted a descending Abcde triangle on 4h time frame ..
well since i do Elliot wave analysis i do believe that we could see a retest for 18-19k ish areas .. however, things might be changed if this pattern played out and hit his targets as of the above chart .. between 14-15k ish areas ... and then we can finish the wave 4 to the upside 18-19k after that i will update wave 5 that should be downside to 11-12 k ish areas this is what do i believe
A descending triangle is a bearish price pattern that occurs in a downtrend, and signals that the bearish trend will persist. Still, in some cases, a descending triangle may appear as a reversal pattern at the end of a bullish trend. Nevertheless, it remains a bearish pattern regardless of the previous direction of the trend.
FYI : IF E LEG BEEN BROKE UPSIDE THEN THE PATTERN IS INVALID