Since the reversal on the 16th, two dominant chart patterns—symmetrical triangle and continuation channel—have been playing out. I didn't spot the latter until the price action smashed out of the triangle, but there are some notable fibonacci pivots. Price is currently sitting at the crucial .618 level which it has bounced off of at least four times (depending on how you count).
Looking for a further breakout or a retrace on Monday. The bearish divergence in volume makes me think the latter is more likely but sentiment about the Fed's pump and/or a move in the price of gold are strongly in play.
(Novice trader, not advice, feedback welcome, &c.)
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.