https://www.tradingview.com/x/jnonE733/
After K3 break up the previous higher high,
K4 return back immediately.
It seems that K3 was a potential fake up candle,
But it must be verified by K5.
I am expecting a doji candle of K5 close at low price area to terminate the three years bull market here.
If I bought it earlier,
I will try to cut off most of my long-term positions and even try to buy MSTZ to short it.
On the other hand,
If K5 close at high price,
The following candles will test 128K area or even break up it.
Long-88K/Target-98K/Stop-87K
Short-115K/Target-89K/Stop-116K
After K3 break up the previous higher high,
K4 return back immediately.
It seems that K3 was a potential fake up candle,
But it must be verified by K5.
I am expecting a doji candle of K5 close at low price area to terminate the three years bull market here.
If I bought it earlier,
I will try to cut off most of my long-term positions and even try to buy MSTZ to short it.
On the other hand,
If K5 close at high price,
The following candles will test 128K area or even break up it.
Long-88K/Target-98K/Stop-87K
Short-115K/Target-89K/Stop-116K
Note
From K1 to K3,
It is a strong three soldiers advancing pattern under increasing supply pressure.
It break down the support.
But the overall supply pressure keeps at low level,
Perhaps it is not a valid break down.
It must be verified by K4.
If K4 still close below the support,
The risk will increase.
The long-term uptrend will be terminated here.
If K4 close upon K3,
It is still possible that the following candles will return back to test 123K area.
Long-88K/Target-98K/Stop-87K
Short-115K/Target-89K/Stop-116K
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.
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.