Is Coca-Cola investment in Monster Beverage enough to boost price beyond the trending channel?
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
What we have here is a potential bearish bat pattern completing at the same area we have our eye on for a trend continuation move down. Also structure, looking left, and ratio confluence as well. Thanks for the heads up on this one JC.
After creating new structure highs we're now retracing into previous structure setting up a low risk long opportunity. I'd be cautious about shooting for too high of targets since we still haven't passed the major structure area on the weekly.
If the resistance holds and is confirmed like before this week, there may be enough time to make 20 pips out of this trade. Using a tight stop loss, as there isn't significant news till Friday's close.