EVIDENCE FOR MARKET TOP..!
1- This price pattern occurs when two different gaps isolate a cluster of trading days.
The pattern usually implies reversal and can apply to a bullish or bearish change.
An island reversal changing from upward trending prices (bullish) to downward trending prices (bearish) is much more frequent than the opposite. (Investopedia)
2- since February 16, 2021, we had 6 green candles out of 15 trading days(40%) and 9 RED (60%)
3- LOOK AT THE BODIES OF THE RED CANDLES THEY BECOMES BIGGER AND BIGGER..!( YOU DONT EXPECT THIS PHENOMENON IN CORRECTIONS!
4- NON OF GREEN CANDLES COULD pass THE PREVIOUS HIGH OF A RED ONE!
5- WE DID NOT HAVE ANY 3 POSITIVE CONSECUTIVE DAYS
6- Body of the candles become smaller and smaller in the first half of February before market top.
The most important question is :
How much time does market need to reach its previous high? And how far it could go down in coming weeks!
IMO: it will not be soon..!
The pattern usually implies reversal and can apply to a bullish or bearish change.
An island reversal changing from upward trending prices (bullish) to downward trending prices (bearish) is much more frequent than the opposite. (Investopedia)
2- since February 16, 2021, we had 6 green candles out of 15 trading days(40%) and 9 RED (60%)
3- LOOK AT THE BODIES OF THE RED CANDLES THEY BECOMES BIGGER AND BIGGER..!( YOU DONT EXPECT THIS PHENOMENON IN CORRECTIONS!
4- NON OF GREEN CANDLES COULD pass THE PREVIOUS HIGH OF A RED ONE!
5- WE DID NOT HAVE ANY 3 POSITIVE CONSECUTIVE DAYS
6- Body of the candles become smaller and smaller in the first half of February before market top.
The most important question is :
How much time does market need to reach its previous high? And how far it could go down in coming weeks!
IMO: it will not be soon..!
Nota
Today is a fabulous opportunity to trim your position if you are in LONG side!!!
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.