I initially thought the latest price action might be the beginning of a V reversal.
A closer look and drawing of a few lines confirms that a Right Angled Ascending Broadening formation (a mouthful I know) was broken.
Price action will probably retest the lower blue support line before kicking back downwards.
As always, with charts, nothing is written in stone.
Just trying to navigate the storm and play the most probable outcome.
A closer look and drawing of a few lines confirms that a Right Angled Ascending Broadening formation (a mouthful I know) was broken.
Price action will probably retest the lower blue support line before kicking back downwards.
As always, with charts, nothing is written in stone.
Just trying to navigate the storm and play the most probable outcome.