Hi friends, I hope y'all had a fantastic weekend ;)
I did, especially when I saw this trade opportunity yesterday when I was preparing for this week. However, I kind off doubt it due to how the monthly price only triggered 2 confirmations instead of 3, despite that the weekly triggered 3 out of 3 confirmations for this buy trade opportunity, which that made it an A (-) signal that is in-line with my rules. Lets see how the bulls and bears might behave in confirming and dis-confirming the trade.
Bulls: -The price formed a double bottom that had its neckline and 8 bullish broken and retested with a bearish hammer candle close. If the price forms or closes with a bullish candle above the Weekly Neckline 3 and 8 m.a, that will confirm the trade. And I call this trade signal a "Double Bottom A-E.2".
Bears: -If the price bullish bounces off 1st Monthly Key Lvl with a bearish reversal candle pattern that leads it to bearish break and retest the Weekly Neckline 3 and 8 m.a, or just break the latter without bouncing off the 1st Monthly Key, that will dis-confirm the trade, and the price would be preparing to form a big double top that will drop the price to the monthly's 3rd confirmation key level that will fully confirm the long-term bullish trend.
That's it for today. I hope you found value in this. If you have a different perspective, feel free to share it in the comments section, I'd love to know your point of view!
Stay Blessed,
Doji-2K1
I did, especially when I saw this trade opportunity yesterday when I was preparing for this week. However, I kind off doubt it due to how the monthly price only triggered 2 confirmations instead of 3, despite that the weekly triggered 3 out of 3 confirmations for this buy trade opportunity, which that made it an A (-) signal that is in-line with my rules. Lets see how the bulls and bears might behave in confirming and dis-confirming the trade.
Bulls: -The price formed a double bottom that had its neckline and 8 bullish broken and retested with a bearish hammer candle close. If the price forms or closes with a bullish candle above the Weekly Neckline 3 and 8 m.a, that will confirm the trade. And I call this trade signal a "Double Bottom A-E.2".
Bears: -If the price bullish bounces off 1st Monthly Key Lvl with a bearish reversal candle pattern that leads it to bearish break and retest the Weekly Neckline 3 and 8 m.a, or just break the latter without bouncing off the 1st Monthly Key, that will dis-confirm the trade, and the price would be preparing to form a big double top that will drop the price to the monthly's 3rd confirmation key level that will fully confirm the long-term bullish trend.
That's it for today. I hope you found value in this. If you have a different perspective, feel free to share it in the comments section, I'd love to know your point of view!
Stay Blessed,
Doji-2K1