Price action and chart pattern trading > A possible downtrend continuation for C-leg with the current bearish PENNANT pattern > The downtrend TP @ 1.618 extension zone at 13K USD price - same target with the previous bearish INVERTED CUP pattern > An upcoming mega bull flag formation with target reversal +80% upside @ 28K USD price. > Close short position once a divergence signal presented.
Always trade with affordable risk and respect your stoploss!
Absolutely agree with your point of view, thanks for sharing!!
nestorador
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Pluse false BO to 18300. Thank you for your clear picture.
dukeposh
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@nestorador, I always wait for price confirmation before taking action.. good luck
nestorador
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@dukeposh, I wan't to ride Fake Breakout, it couldn't be confirmed, that is why I added "Beyond TA" to idea's tags. +30% at the moment. you may look my last trade in the ideas. It is stil active.
nestorador
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@dukeposh, It is wery good to wait for Price vonfirmation. But there are also Trap confirmation ;-) Bull trap at the moment. But I closed my long, thanks :-)