US10Y on this daily timeframe shows a large descending scallop
On the right another example of this pattern is shown, however just it has been completed
Descending Scallops are a bullish reversal pattern
PPT is in a daily down trend, but appears to be slowing in momentum. We can see one drive of bullish divergence on this daily chart. This bullish divergence will be confirmed with a daily close above $0.744. If bullish divergence is confirmed, then I would be looking for a move up to the next resistance zone around $0.85.
PPT just did shoot trough our first target and we are now >100% from the entrypoint.
Considering the ATH from 2018 around 75$ we look at a 1000% potential.
Are you ready for that ride? It maybe takes a while.^^
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't...
We looked at PPT mostly because of TA and the potential it shows within TA.
So do your own research if it also makes sense considering the tec behind.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too...
OKX
