We are testing the "king of overreactions" trend line
The diagonal trend line shown in this chart shows us that this trend line is still relevant.
For now we've seen it holding today.
We can see that 4 times it sends us back with no mercy, including May 2021.
But it's also been a catapult of price to the upside.
Decisive times 100%
At the moment I have a bearish short term bias so I'm going with the option of hitting next levels down if we break below it this descending trend line.
For now we've seen it holding today.
We can see that 4 times it sends us back with no mercy, including May 2021.
But it's also been a catapult of price to the upside.
Decisive times 100%
At the moment I have a bearish short term bias so I'm going with the option of hitting next levels down if we break below it this descending trend line.
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thetradingparrot.com
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