EVIDENCE FOR MARKET TOP..!
1- This price pattern occurs when two different gaps isolate a cluster of trading days.
The pattern usually implies reversal and can apply to a bullish or bearish change.
An island reversal changing from upward trending prices (bullish) to downward trending prices (bearish) is much more frequent than the opposite. (Investopedia)
2- since February 16, 2021, we had 6 green candles out of 15 trading days(40%) and 9 RED (60%)
3- LOOK AT THE BODIES OF THE RED CANDLES THEY BECOMES BIGGER AND BIGGER..!( YOU DONT EXPECT THIS PHENOMENON IN CORRECTIONS!
4- NON OF GREEN CANDLES COULD pass THE PREVIOUS HIGH OF A RED ONE!
5- WE DID NOT HAVE ANY 3 POSITIVE CONSECUTIVE DAYS
6- Body of the candles become smaller and smaller in the first half of February before market top.
The most important question is :
How much time does market need to reach its previous high? And how far it could go down in coming weeks!
IMO: it will not be soon..!
The pattern usually implies reversal and can apply to a bullish or bearish change.
An island reversal changing from upward trending prices (bullish) to downward trending prices (bearish) is much more frequent than the opposite. (Investopedia)
2- since February 16, 2021, we had 6 green candles out of 15 trading days(40%) and 9 RED (60%)
3- LOOK AT THE BODIES OF THE RED CANDLES THEY BECOMES BIGGER AND BIGGER..!( YOU DONT EXPECT THIS PHENOMENON IN CORRECTIONS!
4- NON OF GREEN CANDLES COULD pass THE PREVIOUS HIGH OF A RED ONE!
5- WE DID NOT HAVE ANY 3 POSITIVE CONSECUTIVE DAYS
6- Body of the candles become smaller and smaller in the first half of February before market top.
The most important question is :
How much time does market need to reach its previous high? And how far it could go down in coming weeks!
IMO: it will not be soon..!
Catatan
Today is a fabulous opportunity to trim your position if you are in LONG side!!!
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
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.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
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.