Rising Channel

1 Ağu 2020

Just forecasting right now. This looked like an ascending triangle breakout to me, which may very well be in play, but this point makes a good clean rising channel pattern as well. My last post showed a similar pattern play out on the 1hr time frame, and as I said in that post, I would expect a big move if this channel breaks to the upside.

1 Ağu 2020

Not

I put in low leverage short here $11,858 with a 1% risk in case we break up. The channel seems to have confirmed as resistance and there appears to be a smaller rising wedge forming inside of the channel. A throw baclk to retest the $11,250 range seems logical.