Hi All,
I am watching this pattern for some while. I do not like the fact the price retraced almost 38,2% already before triggering an entry => some short term buying potential is already gone.
In addition, I will pay attention to the 1,272 & the 1,618 extensions of the latest swing as potential alternative entries, instead of entering aggressively.
I see price action as building and releasing buying and selling pressure. Would be interesting to know if anyone else has the same view on price action :) Happy for any comment.
I am watching this pattern for some while. I do not like the fact the price retraced almost 38,2% already before triggering an entry => some short term buying potential is already gone.
In addition, I will pay attention to the 1,272 & the 1,618 extensions of the latest swing as potential alternative entries, instead of entering aggressively.
I see price action as building and releasing buying and selling pressure. Would be interesting to know if anyone else has the same view on price action :) Happy for any comment.