I've been looking at this chart basically the entire day. I traded it long but got stopped out because I was too early. I wanted to post here so I can study it some more and figure out where exactly can I enter?
But first the analysis 1. Price is trending down with a clearly defined channel 2. But this is after a previous impulsive move up so I thought this downtrend was only a natural corrective structure. 2. Then an inverted head and shoulders formed - When the right shoulder materialized, it alerted me to the possibility of going long. 3. A triangle formed on the right shoulder. 4. Price went up again after than and never looked back after the triangle breakout
I'm gonna see how I can refine my entries based on this chart. The effect of a real-time chart developing is quite strong.