Morning guys and the move was all pretty much as predicted. The arrows point to the Tails-of-Pain I mentioned on Friday. This was a big clue to the short trem direction.
Friday morning's first posts were looking at the gameplan and the 3-Pushes To High was the signal that the bullish triangle would do the opposite to expectations and break down. No surprises here, that's exactly what we got.
I've drawn a parallel line to the fake break on the 3rd and the hourly looks very well supported here.
Keep in mind that a common move after a breakout is to return to the trendline and then continue down.
OK gameplan: clearly well supported so we are long above this support. We'll see much later if the direction is to continue down.
Enjoy
Friday morning's first posts were looking at the gameplan and the 3-Pushes To High was the signal that the bullish triangle would do the opposite to expectations and break down. No surprises here, that's exactly what we got.
I've drawn a parallel line to the fake break on the 3rd and the hourly looks very well supported here.
Keep in mind that a common move after a breakout is to return to the trendline and then continue down.
OK gameplan: clearly well supported so we are long above this support. We'll see much later if the direction is to continue down.
Enjoy
