Tentative head and shoulder pattern emerging, we have downside support that might stop bearish movement. As I always anticipate what the price can possibly do, I have plotted a downtrend line with a bullish anticipation indicated. Read the candlestick story teller when the price trade near or intersect any of the lines (support or resistance).
Commentaire:
Will look for increase or slowdown of bearish momentum around the neckline area. This should give me an idea if the price is going to intersect the neckline or consolidate.
Commentaire:
False breakout of neckline. False breakouts in trading is a reality and you have to learn how to deal with them. Go to my profile and follow my website's link to learn more.
Commentaire:
To consider all possible moves the price can take when patterns are forming, helps you to condition your brain to be open for any direction move. Now your brain is able to quickly swap between biases.