Uncertainty? Don't get liquidated. Its 50-50 to up and down.
We can observe strong selling pressure in the H&S structure. Waiting for a clean right shoulder formation.
Bearish Views:
We have a decent right shoulder for now. To send a strong selling pressure for right shoulder an upward move to 8900-9150-9350-9580-9650 will be a decent bet. 8400-9580 will provide exchanges good liquidation counts. A breakout of this H&S Structure will take us down step by step to 8000-7800-7200-6800 and further if needed. Considering weekly candle showing slow reversals, if Red TD shows up the downward move can go as low as 4500-6100. Considering JULY-OCT is a time for reversal.
We can see mixed emotions in OB, But by looking at candle and trend patterns it is evident we are looking down and won't be forming a CUP & HANDLE Formation in coming weeks.
What about CME Gap?
Well we cant rule out an upward wick to 9300-9900. Even if we go up there, we can consider it as a right shoulder or double top depending on the candle closing. It is extremely hard to break a strong selling trend made with H&S Pattern.
So we are stuck now?
Kind of. 8250-9150 will be a confusing stage. Price can go up towards 10000 or reverse from 8900-9200. As with every right shoulder this is a uncertainty stage. If you were smart you should be in from 9500-10000. If not sure what to do, the alternative thing to do is add 0.5% of margin at 8900 or 9150 and if price goes up towards 9500-10000 add 0.3% to average things out. So that it wont be more risky.
Bullish Views:
If we go up and cover CME Gap and never come below 8000-8600, it will create CUP & HANDLE formation. Considering we never went below 33% of the 3500-10100 move. It can be a bullish sign and TD candle can do continuation in daily and weekly. But it is too early to IMAGINE things.
Another hidden pattern to watch out for is the trickery by market makers. Although it seems like we broke out below rising wedge, but if you connect candle to candle on top and body to body below, you will see a rising channel. What does that mean? There is possibility of a move to 10600. That's a 50-50 chance. Rising channel is invalidated if we close below 8250 in couple of days.
Bearish Views:
We have a decent right shoulder for now. To send a strong selling pressure for right shoulder an upward move to 8900-9150-9350-9580-9650 will be a decent bet. 8400-9580 will provide exchanges good liquidation counts. A breakout of this H&S Structure will take us down step by step to 8000-7800-7200-6800 and further if needed. Considering weekly candle showing slow reversals, if Red TD shows up the downward move can go as low as 4500-6100. Considering JULY-OCT is a time for reversal.
We can see mixed emotions in OB, But by looking at candle and trend patterns it is evident we are looking down and won't be forming a CUP & HANDLE Formation in coming weeks.
What about CME Gap?
Well we cant rule out an upward wick to 9300-9900. Even if we go up there, we can consider it as a right shoulder or double top depending on the candle closing. It is extremely hard to break a strong selling trend made with H&S Pattern.
So we are stuck now?
Kind of. 8250-9150 will be a confusing stage. Price can go up towards 10000 or reverse from 8900-9200. As with every right shoulder this is a uncertainty stage. If you were smart you should be in from 9500-10000. If not sure what to do, the alternative thing to do is add 0.5% of margin at 8900 or 9150 and if price goes up towards 9500-10000 add 0.3% to average things out. So that it wont be more risky.
Bullish Views:
If we go up and cover CME Gap and never come below 8000-8600, it will create CUP & HANDLE formation. Considering we never went below 33% of the 3500-10100 move. It can be a bullish sign and TD candle can do continuation in daily and weekly. But it is too early to IMAGINE things.
Another hidden pattern to watch out for is the trickery by market makers. Although it seems like we broke out below rising wedge, but if you connect candle to candle on top and body to body below, you will see a rising channel. What does that mean? There is possibility of a move to 10600. That's a 50-50 chance. Rising channel is invalidated if we close below 8250 in couple of days.
Charts Never Lie. \-.-/
Sometimes it does on lower time frames. -.-
Sometimes it does on lower time frames. -.-
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