Hey Everyone,
Here are the 4 situations I'm seeing at this point.
1) Bearish Pennant that will breakout to the downside in the immediate future.
2) Bearish Flag/Wedge that will continue the down trend in the next week.
3) Bullish Flag/Wedge that will form a reversal over the next week
4) Sideways movement that could go either way, 50/50.
Chances are as follows. 2.5 bear chance to 1.5 bull chance = 62.5% chance of continued bearish movement, 37.5% chance of bullish reversal
Here are the 4 situations I'm seeing at this point.
1) Bearish Pennant that will breakout to the downside in the immediate future.
2) Bearish Flag/Wedge that will continue the down trend in the next week.
3) Bullish Flag/Wedge that will form a reversal over the next week
4) Sideways movement that could go either way, 50/50.
Chances are as follows. 2.5 bear chance to 1.5 bull chance = 62.5% chance of continued bearish movement, 37.5% chance of bullish reversal