It would clearly be an inverse W (M) pattern by now or long ago if not all this strong buys at each sell off.
Further more the formations show that price is breaking every triangle to the upside.
The fifth battle is going well but it seams that bulls are wining.
If it doesn't go down it will explode up because so many margins will be called and so much money stand on each side that when one side is bankrupt the small difference that's left will be big enough to move the market.
One last small factor that is often underestimated.
When we slowdown trend, we should rather touch the mid-line.
(the spike does not count, it is a gap that has been tested to the bottom, should be tested to the top. And I say it is a gap because by testing its bottom the market recognized is as such).
Not entirely long, but searching for longs entries.
Further more the formations show that price is breaking every triangle to the upside.
The fifth battle is going well but it seams that bulls are wining.
If it doesn't go down it will explode up because so many margins will be called and so much money stand on each side that when one side is bankrupt the small difference that's left will be big enough to move the market.
One last small factor that is often underestimated.
When we slowdown trend, we should rather touch the mid-line.
(the spike does not count, it is a gap that has been tested to the bottom, should be tested to the top. And I say it is a gap because by testing its bottom the market recognized is as such).
Not entirely long, but searching for longs entries.
Trade active:
Nice and quick confirmation. Market got tired of breaking out and finally started up.