In my previous chart, LABU almost finished AB=CD pattern in a nice Ascending channel. I sold half of my short at 26.8, and keeping the other half to see how the price will act after reaching the lower side of the channel. I mean in the circle, I marked as Breakout.
** Not really sure what will happen in the breakout circle. may be a reflection and price will go up, or a continuation of the down trend.
** As marked in the figure, there is a high possibility that LABU is getting out of a bearish flag. If this will be the case, then the price will go down in a nasty way.
On the other hand if the price will be reflected in the breakout zone, then it will ride up probably above 45.
## For now I am not putting any new trade, just watching the rest of the short I have, until the picture in the breakout zone will get clearer.
Trade with care, but my advise to wait for now, as entering the trade whether long or short will be risky.
** Not really sure what will happen in the breakout circle. may be a reflection and price will go up, or a continuation of the down trend.
** As marked in the figure, there is a high possibility that LABU is getting out of a bearish flag. If this will be the case, then the price will go down in a nasty way.
On the other hand if the price will be reflected in the breakout zone, then it will ride up probably above 45.
## For now I am not putting any new trade, just watching the rest of the short I have, until the picture in the breakout zone will get clearer.
Trade with care, but my advise to wait for now, as entering the trade whether long or short will be risky.
Trade active:
Trade active:
The price reversed perfectly after touch the lower BB as the previous chart predicted, Let us hope it will be smooth ride up to 43-45 $. Though there is still a possibility that it may go down to 20 before the ride. it is a small possibility but it is there, considering how it behaved back on mid January 2016>
But all in all I took the risk and got in at 25$
But all in all I took the risk and got in at 25$
