NOT A FINANCIAL ADVISOR!
I am not yet convinced that about this breakout.
Awaiting for a confirmation whether this is a fakeout or a real breakout!
In fact, if this is a simetrical triangle that broke down, the lack of volume does not confirm this break out!
I believe that another possible structure would be a descending triangle.
As the current candle close did close below the previous low (30 May), a descending triangle is actually a possible structure.
Having the death cross in the next coming days, expect anything ... (check the price action upon a death cross).
I am not yet convinced that about this breakout.
Awaiting for a confirmation whether this is a fakeout or a real breakout!
In fact, if this is a simetrical triangle that broke down, the lack of volume does not confirm this break out!
I believe that another possible structure would be a descending triangle.
As the current candle close did close below the previous low (30 May), a descending triangle is actually a possible structure.
Having the death cross in the next coming days, expect anything ... (check the price action upon a death cross).
Comment:
Regardless of which triangle really makes sense here...the break down is undeniable.
Comment:
Broadening wedge? :)
