A possible set-up for bearish 3 drivers is forming. The day bouncing just half a dollar above the parallel channel gives more strength to this pattern as well. The overall trend on stochastic show the momentum is declining (although maybe inevitable after the first legs jump) giving weight to an overall bearish signal. The bottom had a violent push back up suggesting good support level and where drive 3 begins.
Although you could play the move up, remember the highest probable trade is at the top, once it reverses below the PRZ for the pattern.
All trades are risky and may lose principle. Carefully consider each strategy before taking it.
Although you could play the move up, remember the highest probable trade is at the top, once it reverses below the PRZ for the pattern.
All trades are risky and may lose principle. Carefully consider each strategy before taking it.