How are we doing after this weekend?
What we can clearly see on the 4 hour chart is that there has been a breakout on the previously reported “Broadening Bottom” pattern… it has fully hit the price target of the breakout on the downside, and the bulls have managed to bring the price back into the pattern within a fairly short period of time. It is desirable that the price now remains within the $3900.
on the chart we see an inverted ascending scallop at the end of the price. there we projected a channel from the extreme in which we can state that if the price breaks below it, the pattern is switched off.
if the price moves to the upper side of the projected channel, then an upward momentum could be a start to seek out for the $4700.
Keep calm, do your own research! trade safe and manage your risk.
*(Disclaimer: This is not financial advice)*
What we can clearly see on the 4 hour chart is that there has been a breakout on the previously reported “Broadening Bottom” pattern… it has fully hit the price target of the breakout on the downside, and the bulls have managed to bring the price back into the pattern within a fairly short period of time. It is desirable that the price now remains within the $3900.
on the chart we see an inverted ascending scallop at the end of the price. there we projected a channel from the extreme in which we can state that if the price breaks below it, the pattern is switched off.
if the price moves to the upper side of the projected channel, then an upward momentum could be a start to seek out for the $4700.
Keep calm, do your own research! trade safe and manage your risk.
*(Disclaimer: This is not financial advice)*
Tims.Technische.Analyse by TIMTIBBO
