This one to watch. For new traders its a nice one to try out on a Tradingview paper trading account.
The possible triple top is into a zone of congestion. Price may go up or it may go down - only two directions here.
All you can do is take a controlled affordable loss (aka stoploss).
This is positional play for finding a trend south on a lower time frame.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
The possible triple top is into a zone of congestion. Price may go up or it may go down - only two directions here.
All you can do is take a controlled affordable loss (aka stoploss).
This is positional play for finding a trend south on a lower time frame.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Comment:
It wasn't a triple top. The point here, is that you cannot know what a formation will be.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
