What is your intuition telling you. Major pullback by breaking down through support or do you think the bulls are still in charge and this is just a breather.
To me, it doesnt "feel" like a trend reversal....just profit taking after a big move up.
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IMO it looked real nasty before on the 4H and Daily, but 4H will look good if this candle closes higher, which would make the daily look a lot better too. My gut says this wedge breaks higher not lower:
I think you're right and this doesn't feel like a reversal - false breaks -> reversals tend to be much more violent and decisive!
Especially reversals to the downside....to the upside they tend to be slower...but a top tends to see a hard and sudden movement south.
Yep, this BS is ongoing, but the lack of speed suggests consolidation rather carnage. Potential bull flag on the hourly:
Not sure if you are based in the US or not, but if not, you should have a crack in my demo trading/investing comp