Its a classic heads and shoulder pattern, if KNC is not able to hold over the support line in the triangle it will hit this 1.25ish area then go back up into the triangle if it holds the support then it's just going up. Something to think about, I'm not sure if it will because I see how it would want to go up honestly have idea I got in again yesterday at 1.51 and have been in since but if it shows signs of decline I will sell out and look for this lower re-entry at 1.25 ish after a reversal is confirmed.
My reasoning behind it dropping is the green heads and shoulders while my reason for it going up is the blue heads and shoulders and resistance line
There are a few possibilities
If it were to hit this 1.25 while that would not be good for our triangle it would set us up perfectly for a double bottom and then fly to the moon
My reasoning behind it dropping is the green heads and shoulders while my reason for it going up is the blue heads and shoulders and resistance line
There are a few possibilities
If it were to hit this 1.25 while that would not be good for our triangle it would set us up perfectly for a double bottom and then fly to the moon