And again we can see the burst of bearish activity in American stock market. There are 2 visible scenarios: 1. Main (because UP trend lines were broken Down). Very interest and complex H&S model can be activated. It's worth mentioning. 2. Alt. At the same time horizontal triangle is also possible. Be out of the market and look for orange line breakout (KEY event)....
APEI. Daily. Playing Flag, formed after plenty of bullish reversal patterns.
1-st lower level impulse is on.
Selling power of bears is being tested now. Who will win in this round?
Double bottom reversal => Market volatility will increase soon...
Optimistic scenario for the pair (if we will see Triangle)
V-bottom changed the plan with correction. Big triangle is possible. Like the one, which was in gold... Now only long.
Market shows that bears are stronger now...
Correction has started recently. I believe that it will be just a correction... Let's look at H&S in work :simple_smile:
Considering UP trend, we expect breaking horizontal Triangle UP in direction to Purple Flag target zone. Green Key support is critical for this idea. So work in direction of Triangle breakout ...
Plaing spike. Tight stop under spike (countertrend trade)
Horisontal Traingle. BUY/Sell the breakeout. Selling is primary scenatio (divergence, price below EMAs, V-top). Better to wait confirmation...
Instead of Double bottom Copper made Bearish Flag
Buy the breakout of local downtrend. Long ERX - seems to be good idea...