Simple observation - most recent consolidation from end of Aug till now resembles a classic flag pattern (at least to me). Recent Friday close broke below the flag boundry - continuation???
Further market hesitated at SELL ZONE that I marked in red rectangle
1-2-3 SET UP
Simple classic set up that has many variations - here is the simplest one that I know.
Mid August high to 22/08 low is Swing 1. Swing 1 got retraced by Swing 2 that did not exceed Swing 1before turning back down.
22/08 low is now in play - if price breaks below it may signal trend reversal based on 1-2-3 set up.
As always - happy trading!
DISCLAIMER: Trading is a risky business and there is possibility of losing all your trading capital and more. This post is not an advice or an instruction to trade and does not gurantee profitable outcome. This is for informatoin purpose ONLY. Choice to act on this information is your own and hence responsability for outcome of that choice is also your own. I am not liable for any adverse outcomes.
Update status
Further market hesitated at SELL ZONE that I marked in red rectangle
1-2-3 SET UP
Simple classic set up that has many variations - here is the simplest one that I know.
Mid August high to 22/08 low is Swing 1. Swing 1 got retraced by Swing 2 that did not exceed Swing 1before turning back down.
22/08 low is now in play - if price breaks below it may signal trend reversal based on 1-2-3 set up.
As always - happy trading!
DISCLAIMER: Trading is a risky business and there is possibility of losing all your trading capital and more. This post is not an advice or an instruction to trade and does not gurantee profitable outcome. This is for informatoin purpose ONLY. Choice to act on this information is your own and hence responsability for outcome of that choice is also your own. I am not liable for any adverse outcomes.
Update status