Hello all,
After a long downtrend you can observe 2 major clues of an impending upward breakout. First the 3 contracting downswings and second the 4 rising bottoms that together have formed a nice Inverted Expanding Pivot ( Or classic Pennant ). The other interesting clues is beginning with the low with have a classic Andrews 5 Pivot count and all the low pivots have failed to reach their respective median lines which are all sign's that the Bulls are building up their positions. I will be stalking this one closely as these moves can be BIG..... Traps are Set!!
PS: Also the last few bars have formed a nice little channel which Andrews used to project the future target by counting the number of touches of the swings.....Conservative 43 and possibly much higher.
Thanks
After a long downtrend you can observe 2 major clues of an impending upward breakout. First the 3 contracting downswings and second the 4 rising bottoms that together have formed a nice Inverted Expanding Pivot ( Or classic Pennant ). The other interesting clues is beginning with the low with have a classic Andrews 5 Pivot count and all the low pivots have failed to reach their respective median lines which are all sign's that the Bulls are building up their positions. I will be stalking this one closely as these moves can be BIG..... Traps are Set!!
PS: Also the last few bars have formed a nice little channel which Andrews used to project the future target by counting the number of touches of the swings.....Conservative 43 and possibly much higher.
Thanks
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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.