https://www.tradingview.com/x/O1UN4rYx/
K6 close upon the neck line of a potential bullish head-shoulder pattern.
It seems that another bull run will start here to test 0.5fib line or the resistance.
I will try to buy it from 5.6-5.3USD area.
On the other hand,
It is also possible that K6 is just a fake up candle,
If K7 keep climbing up to close upon 6.5-7.0USD area,
It will be a valid break up.
K6 close upon the neck line of a potential bullish head-shoulder pattern.
It seems that another bull run will start here to test 0.5fib line or the resistance.
I will try to buy it from 5.6-5.3USD area.
On the other hand,
It is also possible that K6 is just a fake up candle,
If K7 keep climbing up to close upon 6.5-7.0USD area,
It will be a valid break up.
Trade closed: stop reached
Note
K4 and K5 close upon the neck line of a potential bullish head-shoulder pattern.
So, I will try to buy it at K5.
A nearest potential target at about 13.5USD.
If K6 is a green candle like K1,
The market will keep accelerating to break up the resistance,
If not,
It will consolidate around the neck line to verify the valid break up of K4 and K5.
I am expecting a retest to the neck line and try to buy it.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.