Why is waiting better than FOMOING?
If you would only watch the 1-hour chart, then you would say it is a very good entry point, because of the high volume breakout.
But if you take a look at a higher timeframe, then you would notice that we only backtested the previous bearish pattern (Head and Shoulder).
So in any case like this, I suggest you sit back and wait for a confirmation.
Such a confirmation could be a gap-up opening on Monday, with a lot of participants.
A bearish sign would be, low volume tanking on Monday.
Summary:
At this moment it is truly neutral.
A lot of bearish and bullish signs occurred.
But if you take a look at a higher timeframe, then you would notice that we only backtested the previous bearish pattern (Head and Shoulder).
So in any case like this, I suggest you sit back and wait for a confirmation.
Such a confirmation could be a gap-up opening on Monday, with a lot of participants.
A bearish sign would be, low volume tanking on Monday.
Summary:
At this moment it is truly neutral.
A lot of bearish and bullish signs occurred.
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