Volume is visibly picking up on the 4 hour chart especially when it pushes into the 3650 support area.
The symmetry of the congestion area means it is likely going to try to spin out of here pretty soon. It could end as a megaphone widening pattern where it makes a series of higher highs, then lower lows, then higher highs and so forth.
If that happens it will be running people's stops in both directions and when it finally finds the final breakout path it will probably make a measured move in that direction.
I'm giving it enough space with my stop to go through that process and if it does go higher the trade has enough breathing room to work.
If it doesn't break higher I'll end up bailing on my long and will look to short from 4k ish.
The symmetry of the congestion area means it is likely going to try to spin out of here pretty soon. It could end as a megaphone widening pattern where it makes a series of higher highs, then lower lows, then higher highs and so forth.
If that happens it will be running people's stops in both directions and when it finally finds the final breakout path it will probably make a measured move in that direction.
I'm giving it enough space with my stop to go through that process and if it does go higher the trade has enough breathing room to work.
If it doesn't break higher I'll end up bailing on my long and will look to short from 4k ish.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.