In 2020 when we had the bullish breakout, we saw a very particular sequence of events take place.
We saw:
1. MACD divergence
2. Trendline Breakout
3. Double Bottom
4. BULLRUN
We are now seeing a very similar sequence of events happening. So far we can see:
1. MACD divergence
2. Trendline Breakout
We are yet to see Double Bottom and the BULLRUN.
Trade Idea:
- Watch for price to retrace back to the double bottom
- Enter with stops below the lows
- Hold on tight for another bullrun!
It is quite possible that we may not come down to the double bottom. Incase we don't, look for lower timeframe bullish corrections to enter.
Goodluck!
We saw:
1. MACD divergence
2. Trendline Breakout
3. Double Bottom
4. BULLRUN
We are now seeing a very similar sequence of events happening. So far we can see:
1. MACD divergence
2. Trendline Breakout
We are yet to see Double Bottom and the BULLRUN.
Trade Idea:
- Watch for price to retrace back to the double bottom
- Enter with stops below the lows
- Hold on tight for another bullrun!
It is quite possible that we may not come down to the double bottom. Incase we don't, look for lower timeframe bullish corrections to enter.
Goodluck!