From the standpoint of technical indicators, the trend is clearly bullish (MAs, RSI). So, I'm willing to take short position only if price breaks out of the channel. I would like to pay your attention to this fractal:
The only difference between these two is that they developed on different stages of the trend: the first pattern initiated the bullish trend, and the second may add fuel to it. Currently, the wave pattern is unclear, so I will wait to assess price's interaction with the 'Decision Zone' or the channel.
Kommentera:
LTC: New high in sight
Kommentera:
Price has reversed from 'Decision Zone' and is now testing the support area. Dropping below 9080 is not desirable for bulls
Kommentera:
Breakout imminent in XRPBTC:
Kommentera:
H&S pattern is threatening the market. Breakout strategy is activated:
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Pullback within wave 5 of uptrend or C wave of correction? Big difference for day trading.
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Breakout target was reached overnight. Flat for now. Chart update soon:
