hey guys so now we will talk about DKNG, as you can see we’re trading inside a triangle since July 2020. What I love about this type of pattern especially now on DKNG it’s just how it acts flawless every time we touched the triangle we traded all the way up/down. So this ticker is respecting the trend lines, moreover every time we touch the lower trend line and...
Trend line has been drawn on a confirmed downtrend that has 12 or more bars moving in the direction of the trend. Trend line has been drawn from the all time high in March of 2021 (highest high) to the current week 24th Oct 2021. Trend line is valid because it has been drawn within 2% of at least 3 peaks. A buy condition would trigger on 2 consecutive weekly...
Here We Expecting Very Different This long Trade is Temporary This Technical Analysis With Previous All Time High
Keep In Mind.
🟣 Purple Structure
🔴 Red Structure
🔵 Blue Structure
🟡 Yellow Structure
⚪️ Whaite Structure
Hello traders! For my opinion this pair is neutral because is in the triangle pattern and in super resistance.
After breaking the resistance and the triangle pattern it can go down trend but this remains to be seen.
Don`t forget to look the economic calendar.
At the moment, the price is at the center of the descending channel. Further movement will be the end of the pattern, I expect a retest of the support level and the , after which, if we do not break through the level of reversal, we go down.
Have a nice trade!
This most likely course for gold to take over the next week. I believe GLD will fill the gap, test TL, and then be rejected and break down lower. Scalping up to TL, and then Short will be the positions i will be looking to take. I dont believe that Gold will be a safe bet in the event that we see a 5-10% correction in the overall market.
Update from the previous post, we broke the downtrend, the wedge posted wasn't a great setup once we started breaking lower.
We will see if we reject these retracements above between $1.50 and $1.80 then we can expect a move down.
Alternatively, if we push towards $2 a break above would expect a continuation.
More to follow soon.