Did you know this market geometry, symmetry:
When a (strong) trendline is broken, the market will fall equal distance or more from the trendline as from the peak to the breakpoint. I have shown example of Nasdaq from the past.
This is also true for the reverse, a falling trendline break can predict the upside target
Hope this is useful in your trading
What it means is you might see a small upside from here, but since its already broken the trendline, it will trap the buyers and then do a hard U turn to the downside. I would wait for a bullish pattern to develop before going in long. Be careful of traps!
When a (strong) trendline is broken, the market will fall equal distance or more from the trendline as from the peak to the breakpoint. I have shown example of Nasdaq from the past.
This is also true for the reverse, a falling trendline break can predict the upside target
Hope this is useful in your trading
What it means is you might see a small upside from here, but since its already broken the trendline, it will trap the buyers and then do a hard U turn to the downside. I would wait for a bullish pattern to develop before going in long. Be careful of traps!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.