There are two 4 hour charts that looks similar, but each with a different interpretation.
In the right side you can see a rising wedge, which is a reversing pattern, that was confirmed, and it looks like the price is going to fall down.
But, in the left side, there is an up channel, or another rising wedge that will come in play only if the price falls under 1970 price level.
So how to play this? Simple, just trade the obvious.
As long as the price is in a up channel and uptrend, stay with buy trades, because you have the fundamentals on your side.
IF the price breaks under 1970, than we have a rising wedge confirmed, and you need to search for short trades.
Don't stumble trading. Trade Safe!
In the right side you can see a rising wedge, which is a reversing pattern, that was confirmed, and it looks like the price is going to fall down.
But, in the left side, there is an up channel, or another rising wedge that will come in play only if the price falls under 1970 price level.
So how to play this? Simple, just trade the obvious.
As long as the price is in a up channel and uptrend, stay with buy trades, because you have the fundamentals on your side.
IF the price breaks under 1970, than we have a rising wedge confirmed, and you need to search for short trades.
Don't stumble trading. Trade Safe!