Reversed view gives us another perspective on the markets with a new understanding of chart patterns.
This is the ideal setup I see unfolding with the highest probability at current market action.
As we can see price is approaching the break of triangle as well as the trend line. 2 very strong areas of resistance which will most likely cause prices to fall. I don't currently see enough moment or an indication of price being able to break these 2 barriers, but if it does I could see price hitting $1250.
The only indication of price breaking these resistances are: 1. break of smaller timeframe channel. 2. Inflation rating news "spike" to $1000
Let me know your thoughts below in the comments because I've been analyzing this chart all day and I'll be honest I am lost as to where price will go next.
This is the ideal setup I see unfolding with the highest probability at current market action.
As we can see price is approaching the break of triangle as well as the trend line. 2 very strong areas of resistance which will most likely cause prices to fall. I don't currently see enough moment or an indication of price being able to break these 2 barriers, but if it does I could see price hitting $1250.
The only indication of price breaking these resistances are: 1. break of smaller timeframe channel. 2. Inflation rating news "spike" to $1000
Let me know your thoughts below in the comments because I've been analyzing this chart all day and I'll be honest I am lost as to where price will go next.