Back in June 21st, I shared this idea on the similarities between accumulation and distribution and possible failure points.
There were two points of possible failure. We have just passed the first one, however there's still a chance for a breakdown. Don't forget, we have not yet exited the trading range, so we could still go both ways.
I'm expecting lower highs and a descending triangle formation. We can still break this triangle in both ways.
Note that a spring in phase C is not required, but is a possible move. I didn't include a spring here, use your imagination.
PS. I'm publishing my ideas based on my position not yours. When i post a short idea, i'm not telling you to short now, i'm telling you i'm short and i could be short for a long time before i publish this post, which i am. Take the time and educate yourself on technical analysis. I've created a free resource page for this:
https://bit.ly/2UOLwsW
Do your own research. I'm not providing financial advice.
Be safe!
There were two points of possible failure. We have just passed the first one, however there's still a chance for a breakdown. Don't forget, we have not yet exited the trading range, so we could still go both ways.
I'm expecting lower highs and a descending triangle formation. We can still break this triangle in both ways.
Note that a spring in phase C is not required, but is a possible move. I didn't include a spring here, use your imagination.
PS. I'm publishing my ideas based on my position not yours. When i post a short idea, i'm not telling you to short now, i'm telling you i'm short and i could be short for a long time before i publish this post, which i am. Take the time and educate yourself on technical analysis. I've created a free resource page for this:
https://bit.ly/2UOLwsW
Do your own research. I'm not providing financial advice.
Be safe!
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BREAKING: Amazon denied the rumors! www.cnbc.com/2021/07...-nearly-6-weeks.html
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67k or 8k First?
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Bulls win, we're going to 100k!
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Point of No Return
