I closed my shorts & switched back (at least very short term)
This scenario would invalidate the previous 'Sudden Drop Protocol' idea, of course!
Let's see which one plays out. For me this one just became my primary count.
I'll keep you updated! :)
Stay tuned! 🤞🏽🙃
As you can see, the price started to gain momentum, as soon as support was established inside the buy triangle.
This confirms that the buy triangle is active.
What happens next?
Price didn't push out of the triangle yet.
That's what it actually does after finding support inside. Not retesting the channel resistance means that the target must be higher.
Trade is running until bulls fail to find support above the channel resistance,
If they can manage to turn the resistance into support, another bullish follow-through is expected.
If they fail (that's what usually happens if there's no troll on Twitter shilling it like crazy), the price falls all the way back (at least to the middle line of the channel.
I hope this was helpful.
Trade safe, peeps! 🤞🏽🙃