Spike + Channel + Final Flag
Al Brooks says after a spike there is a channel which will end in a range with a climatic action before reversing. We could be in a 4H final flag, probably a distribution pattern of Wyckoff. The UTAD would be the climatic action where everyone will follow the FOMO before reversing the trend which unfortunately should be bearish as the market and indicators are. We are just following a weak bullish trend that should reverse. As always this is an idea and obviously can change at any time as new participants gets in the market or the world itself changes but it doesn’t look like. Let’s see what time says.
Al Brooks says after a spike there is a channel which will end in a range with a climatic action before reversing. We could be in a 4H final flag, probably a distribution pattern of Wyckoff. The UTAD would be the climatic action where everyone will follow the FOMO before reversing the trend which unfortunately should be bearish as the market and indicators are. We are just following a weak bullish trend that should reverse. As always this is an idea and obviously can change at any time as new participants gets in the market or the world itself changes but it doesn’t look like. Let’s see what time says.