Anywhich way but down.
I publish these for my own journal. I am very new to TA and may not use things how they are intended for. I am not claiming to be a professional, this is not investment advice. If you have similar or opposing ideas please feel free to share with me as I am open to positive criticism. Thank you.
I see 2 possible scenarios here.
#1 price continues to follow the yellow rounded bottom bouncing between the top and bottom trend arcs.
#2 price looks to be getting squeezed on the Stoch's and the RSI trend line. The MA's are also flattening and may act as a support for a bounce, causing a possible breakout as price hits the dotted yellow arc
I see 2 possible scenarios here.
#1 price continues to follow the yellow rounded bottom bouncing between the top and bottom trend arcs.
#2 price looks to be getting squeezed on the Stoch's and the RSI trend line. The MA's are also flattening and may act as a support for a bounce, causing a possible breakout as price hits the dotted yellow arc
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