surprisingly, volume signature and price action, aside from this strange blip indicated on chart, makes me believe this is a valid i hns pattern.
something that i have noticed is when a blip like this happens to the upside, the same happens to the bottom side. so this is something to be aware of and look out for.
these blips assist the price in gaining new momentum in the direction it reverses into (so for the blip seen, shorts should have gained momentum; however, they were rejected making the overall movement a slightly bullish one)
can look to enter here with tight stop at 50 ma; alternatively, waiting and entering near the yellow line would make for a better trade, imo.
overall, can still move upwards as long as yellow line isn't broken.
buyers seems to have been in control for the past 12 hrs but are now being tested, so we will have to see what happens from here.
not financial advice.
stay safe.
something that i have noticed is when a blip like this happens to the upside, the same happens to the bottom side. so this is something to be aware of and look out for.
these blips assist the price in gaining new momentum in the direction it reverses into (so for the blip seen, shorts should have gained momentum; however, they were rejected making the overall movement a slightly bullish one)
can look to enter here with tight stop at 50 ma; alternatively, waiting and entering near the yellow line would make for a better trade, imo.
overall, can still move upwards as long as yellow line isn't broken.
buyers seems to have been in control for the past 12 hrs but are now being tested, so we will have to see what happens from here.
not financial advice.
stay safe.
