Key intakes on this market:
- In a confirmed uptrend since beg 2022.
- In a longer term downtrend since 2011, as portrayed by the downward sloping, neat trendline.
- Bullish momentum at 10 year highs.
- Price currently providing another touch to this trendline and threfore in an inflection zone, in a value area. The price breaks out (and closes) = probable direction north. The price fakes out = probable direction south with logical places to place your targets and stop losses prominent in this chart.
- Best for last. Type Bump & Run Reversal o Google and then get back to this chart. Spoiler: it is one of the most powerful reversal patterns.
But hold on your horses, that bearish candlestick fromed last July is far from appealing. Corrections are normal, but a true bullish signal within a correction would have been lack of interest from the bears. That's not what that candle displays.
Also note that there is an humagouns supply pool in the 85-90$ area. Just pull the higher timeframe chart and look at that bearish impulse starting at the end of 2018.
Above all, remember that in trading there are no certainties. There are just probabilities. And a good probability of success here, say 65%, would entail that there is a 35% chance you lose your equity. Manage risk! be diligent and responsible!
- In a confirmed uptrend since beg 2022.
- In a longer term downtrend since 2011, as portrayed by the downward sloping, neat trendline.
- Bullish momentum at 10 year highs.
- Price currently providing another touch to this trendline and threfore in an inflection zone, in a value area. The price breaks out (and closes) = probable direction north. The price fakes out = probable direction south with logical places to place your targets and stop losses prominent in this chart.
- Best for last. Type Bump & Run Reversal o Google and then get back to this chart. Spoiler: it is one of the most powerful reversal patterns.
But hold on your horses, that bearish candlestick fromed last July is far from appealing. Corrections are normal, but a true bullish signal within a correction would have been lack of interest from the bears. That's not what that candle displays.
Also note that there is an humagouns supply pool in the 85-90$ area. Just pull the higher timeframe chart and look at that bearish impulse starting at the end of 2018.
Above all, remember that in trading there are no certainties. There are just probabilities. And a good probability of success here, say 65%, would entail that there is a 35% chance you lose your equity. Manage risk! be diligent and responsible!