Last week I posted a "worst spot to but" trading idea with a neutral perspective and bearish sentiment. Today my view has changed. I'm now in a neutral perspective with a bullish sentiment. I'm still out of the market waiting, why?
The 1D chart shows a significant breakout of a price range, remains within .96 regression! Until the breakout appeared, the price range looked like a bear flag. The 3D chart shows a breakout of a descending triangle. Both 1D and 3D charts have no confirmation of breakout, meaning that it could potentially end up as a big fakeout. Also the regression remains unbroken and in heavily overbought state.
If one of the breakouts is confirmed with a support bounce and price breaks the regression, I will join the bulls. If it cannot confirm and goes back into the price range of the bear flag, then my target remains 16.8K pinning the WMA300.
The 1D chart shows a significant breakout of a price range, remains within .96 regression! Until the breakout appeared, the price range looked like a bear flag. The 3D chart shows a breakout of a descending triangle. Both 1D and 3D charts have no confirmation of breakout, meaning that it could potentially end up as a big fakeout. Also the regression remains unbroken and in heavily overbought state.
If one of the breakouts is confirmed with a support bounce and price breaks the regression, I will join the bulls. If it cannot confirm and goes back into the price range of the bear flag, then my target remains 16.8K pinning the WMA300.