Can we see a backtest on the channel that's taken from the body candle closes? If the answer is yes then the bulls might generate enough power to break through the heavy resistance trend line created by Dec 2017, Jun 2019 & last month's highest wick. Meaning a third wave in a third wave, low volatility and decreasing volume indicate that there's a big move coming, so 'what's it gonna be'? There could be a wick down towards the 200 MA and even to the middle or bottom of the channel but needs to close above $8300 to keep this idea validated. No backtest and we might drop into the descending channel again after a 'fakeout'...
*DISCLAIMER* I'm new to chart analysis since November 2019 and this idea is only for the purpose of sharing ideas -> NOT investment advice,
therefore any feedback from aspiring traders and experts are more than welcome.
Always keep in mind not to enter a trade to soon and remember to take profit along the way.
Stay safe, stay profitable & may the odds be forever in your favor ^^
*DISCLAIMER* I'm new to chart analysis since November 2019 and this idea is only for the purpose of sharing ideas -> NOT investment advice,
therefore any feedback from aspiring traders and experts are more than welcome.
Always keep in mind not to enter a trade to soon and remember to take profit along the way.
Stay safe, stay profitable & may the odds be forever in your favor ^^