2021-08-20 16:57:46
USTECH100 (NASDAQ) 4H
Notice the major difference between the marked area (13,000-15,000) - was a double bottom clear on chart (W shape pattern, 2 similar lows , marked with circle) and the current ongoing movement from the all time high of 15,000-15,200.
Head and shoulder consolidation, spanning over 5 consecutive weeks of no new high generated - confirming solid roof.
So if we cant go higher, we're headed to a very probable weekly pattern breakout of the rising wedge we keep discussing (similar pattern to what recently led to the decline on Oil as reviewed in the last few days).
Once a weekly breakout takes place, it's jumping on a moving train instead of comfortably entering in the station (inside the wedge).
The risk increases, potential lessens.
Take the right call for your investment portfolio.
1.5K viewsAlpine Core FX, 13:57
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