* Working of the range between 3122 and 5627 swing low to swing high we find our buy zone * Buy zone corresponds with the POC and our buy zone * Potential heads and shoulders pattern in play * Volume dropping off (Who will drive the bus?) * OBV still looking good * Histogram making a lower low * Willy coming out of being stupid and being embedded. Fail to keep that -50 line and we are done. * On the CME futures chart there is a nice gap that needs filling at 5430 which could potentially finish off this right shoulder.
* Don't forget to hit that like button and follow me on Trading View and Twitter for more chart analysis :)
You're the first person I've seen on TV this morning who has pointed out the head and shoulders pattern. We are looking at this as well and although we are long right now, if this is a H&S this could be a fast drop but this H&S could bring sell volume into the market to allow the big boys to fulfill their long trades and drive the price up. Excited and watching with you guys. Thanks for the great content!!
@Cryptonite_trader, Same to you! It was really intriguing so I have to come to take a look :)
Cryptonite_trader
⋅
@TradeIndicators, Really appreciate the good vibes and thank you for commenting on my chart analysis. Feels good to know that someone with such a big following sees value in the work i do.
TradeIndicators
⋅
@Cryptonite_trader, What I really like as well is how you label each of your indicators with a quick analysis of how you think they are affecting the price. You did a great job. Keep it up and there's no doubt you will be among the top on TradingView. Cheers mate!