Bearish Ascending Wedge, H&S, Descending Triangle Combo = SHORT
Pretty self Explanatory! In addition to our bearish ascending broadening wedge in green, we also have our H&S pattern as well as a descending triangle in light blue. We also have a small pink bear flag. There is a real possibility of a bounce off of the blue triangle support; and then subsequent retest of green wedge support turned resistance/light blue triangle resistance before the huge drop down to 5K.
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Looking for a break of the bear flag shortly. We have a fisher transform bearish cross; and we are currently teetering between the support of the flag and the 20MA Bollinger Band Mid-Line.
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My short was stopped out in profit. Have re-entered with a higher entry price of 10,298 with stop loss 10,380 as shown. I don't think we will break the yellow resistance line.
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Looking to swap to long here based on 3 hour cross over of 8,13,21 EMA cross over of 55EMA which is a pretty reliable long signal.
