BruceAxe

BruceAxe

Pure Breakout which can be wave 3 on Elliot Wave, Also took out the previous high then form new high that it failed to break several times and then form symmetrical triangle that might break low to form corrective wave ABC before it hit new demand zone where we should look for buy opportunities

BruceAxe

First i identified change of structure when bears breaks the trendline, Then price consolidate to form a nice bearish flag that retraced to 61.8% of Fibonacci which seems like its gonna fail to break level 3 of upper trendline.