Based on prior patterns, I believe we are entering a pivotal point. Even if we breakout upwards past the line, we will be testing the previous lower trend line and eventually the upper trend line, which I am calling the "Battleground" since two opposing forces will be heavily concentrated. Therefore, I feel going up will meet much resistance and shorting is a safer bet until there is a clear winner.
I prefer not state that I am either long or short as I prefer to trade the waves; whether be it up or down.
Komentar
SyndicatedTrade
⋅
I hope you held :D
DrewR
⋅
Interesting to see how it bounced off the first lower trend line I drew and crossed over the "can we get past this line". However, the trend lines nearest "the battleground" are quite formidable it seems and have kept the price suppressed.