Usually a pennant flag is a continuation pattern meaning here we should see more buyers. Alas, this one looks a bit weak to me.
If it fails I expect another zigzag pattern (Wave W=Y) just like we had from the previous high.
If it breaks out upwards then we can use wave X as the projection for the next rally.
Better to wait this one out and see where the pennant flag will be break.
If it fails I expect another zigzag pattern (Wave W=Y) just like we had from the previous high.
If it breaks out upwards then we can use wave X as the projection for the next rally.
Better to wait this one out and see where the pennant flag will be break.
評論:
Well there's your answer. Next rally towards resistance I will look for shorts.
交易進行:
Taking some shorts
評論:
Looking for an exit on Thursday and will try to short another rally later on.
手動結束交易:
Shorts out on profit.