we have a perfect pennant after a sharp move, but pay attention to the volume when the price inside the pennant is going down in compare when it's going up. Here the volume says that sellers are more aggressive and stronger than the buyers and there is small chance for bulls...
But as always, the market is unpredictable and volume burst on either side will be you trading signal...wait patiently and check my YouTube channel for learning and improving your skills. (channel link is on my profile page).
But as always, the market is unpredictable and volume burst on either side will be you trading signal...wait patiently and check my YouTube channel for learning and improving your skills. (channel link is on my profile page).
Comment:
As I said earlier today, volume plays a very important role in breakouts. you see an upward breakout and the price closed a candle above the pennant but without any considerable volume, and it reversed all the way down.