Hi friends, I hope y'all having a profitable week.
Today we're taking a technical look at this famous baby. She's been indecisive lately. After the long bearish drop, a 3-4 month consolidation occurred. During that drop multiple key levels weren't retested. Which gives us bullish targets that the price might rally to after a few confirmations from this timeframe and upwards. On the other hand, we also have bearish targets. They're prompted by the weekly and monthly time frames that expect trend-continuations for their current patterns. Those trend-continuation signals will start to trigger once the price has formed a bearish reversal pattern that bounces off the 50 MA to bearish breaking and retesting the Mini Daily Neckline and bearish crossed short-term MA's. If the price bearish spikes the 1st Monthly Key Lvl and 8 MA with a bullish reversal candle that leads the price to break and retest the 2nd Daily Key Lvl and 50 MA, the bearish signal will be fully dis-confirmed, but we'll be looking at a bullish uptrend.
That's for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts.
Oww...I almost forgot to remind you that:
Success And Failure Are Equally Important
New traders will often take on more risk than they can handle financially and emotionally. Because they see the market as fully deterministic, strict risk control becomes unnecessary and meaningless.
On my journey to becoming a consistent trader, I eventually came to understand that there’ll be times when risk-taking yields success and times when it yields failure. And perhaps more importantly, I learned that both events are equally important—one makes you money and the other helps you grow.
Stay Blessed Baby,
Sphatrades
Today we're taking a technical look at this famous baby. She's been indecisive lately. After the long bearish drop, a 3-4 month consolidation occurred. During that drop multiple key levels weren't retested. Which gives us bullish targets that the price might rally to after a few confirmations from this timeframe and upwards. On the other hand, we also have bearish targets. They're prompted by the weekly and monthly time frames that expect trend-continuations for their current patterns. Those trend-continuation signals will start to trigger once the price has formed a bearish reversal pattern that bounces off the 50 MA to bearish breaking and retesting the Mini Daily Neckline and bearish crossed short-term MA's. If the price bearish spikes the 1st Monthly Key Lvl and 8 MA with a bullish reversal candle that leads the price to break and retest the 2nd Daily Key Lvl and 50 MA, the bearish signal will be fully dis-confirmed, but we'll be looking at a bullish uptrend.
That's for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts.
Oww...I almost forgot to remind you that:
Success And Failure Are Equally Important
New traders will often take on more risk than they can handle financially and emotionally. Because they see the market as fully deterministic, strict risk control becomes unnecessary and meaningless.
On my journey to becoming a consistent trader, I eventually came to understand that there’ll be times when risk-taking yields success and times when it yields failure. And perhaps more importantly, I learned that both events are equally important—one makes you money and the other helps you grow.
Stay Blessed Baby,
Sphatrades
