While waiting for the end game(massive ST and the falling wedge break outs), might as well forecast possible forming patterns. Being cautious though, might get lost in the inception. We'll be looking for patterns within patterns, within patterns, within... Patterns.
More visible more probable:
Dotted lines; possible forming patterns
Dashed lines; measured moves of breakouts and possible price action trajectories.
Solid lines; current patterns.
For the time being I'm a bit bullish due to my indicators. However breaking above the resistance of the current ST in the short term, would confirm a short-/midterm bullish trend reversal. For now patiently waiting for a proper entry for a long position. To be concluded...
More visible more probable:
Dotted lines; possible forming patterns
Dashed lines; measured moves of breakouts and possible price action trajectories.
Solid lines; current patterns.
For the time being I'm a bit bullish due to my indicators. However breaking above the resistance of the current ST in the short term, would confirm a short-/midterm bullish trend reversal. For now patiently waiting for a proper entry for a long position. To be concluded...
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ST broke out to the upside, waiting for the retrace. If resistance becomes support I'll be bullish for the time being and will be expecting retest of resistance of the huge falling wedge.
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Unfortunately we have to wait a bit more, false alarm. Just another day in paradise, good old pump & dump.
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Break out to the downside, made me more bearish. A forming DT is currently most probable. Gonna wait until resistance is confirmed.
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