This triangle looked as if it would break to the downside. Now price is back inside the structure but a confirmed downtrend was never established.
This is an example of why it is important to wait for a confirmed downtrend or a confirmed uptrend after the break of a pattern.
Volume declining but this is not unusual in a triangle or a flag pattern.
I do think MOH will go down eventually, but it is almost impossible to know which way this triangle will break.
I learned something new about timing market rallies versus oversold status. The market was very oversold before this bounce so it was a bit obvious it was coming.
But this put/call ratio chart is something I will also look at in the future and I did not know it was on here. This is a Put/Call ratio chart and the ratio is over the bands.
Thank you for the info markrivest (o:
No recommendation
This is an example of why it is important to wait for a confirmed downtrend or a confirmed uptrend after the break of a pattern.
Volume declining but this is not unusual in a triangle or a flag pattern.
I do think MOH will go down eventually, but it is almost impossible to know which way this triangle will break.
I learned something new about timing market rallies versus oversold status. The market was very oversold before this bounce so it was a bit obvious it was coming.
But this put/call ratio chart is something I will also look at in the future and I did not know it was on here. This is a Put/Call ratio chart and the ratio is over the bands.
Thank you for the info markrivest (o:
No recommendation
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