In the daily chart, I can see that the bullish pennant breakout happened, and now the price is traveling the same distance
as at the beginning of this bullish formation.
Currently, the price is trading in-demand area and approaches a pretty strong resistance level. It might stall for a bit in here before making a move up. However, it is also possible that from...
In the daily chart, I can see a rounding bottom reversal pattern.
Currently, the price is trading in the zone where the price reversed in the past. So it is likely that it will happen again.
However, until the price does not leave the 'neutral' zone, I will not place any trades :)
From my perspective, I see an inverted head and shoulder pattern on the chart.
The price is trending in an uptrend but close to the major trendline. It's always very suspicious if the price is trading around it for some time. That's why I need a valid confirmation to go long.
The price is forming the second shoulder, but it's still just my guessing. I only...
BE PATIENT: The chart shows a deeper pullback IF the price will close below 20MA and below near term trendline, confirming a bearish reversal candlestick pattern.
RSI shows us that my favorite find - bearish regular divergence - is happening. So confirmed pullback + divergence = ;)
However, as much as I love them, I always keep in mind that it can signal...