Two ways to look at this candle:
1. Stock is too strong as it fell down and was again pushed up by buying pressure
2. It is getting stretched because at least sellers were able to take it down.
That is why textbooks after a point are tougher to make money.
AWL
More from The_Chartist 📈
H&S tops with ascending/descending necklines https://t.co/cmRRHp5rlh
Sir Edwards & Magee discussed sloping necklines in H&S in their classical work. I am considering this breakdown by Affle as an H&S top breakdown with a target open of 770.
— The_Chartist \U0001f4c8 (@charts_zone) May 25, 2022
The target also coincides with support at the exact same level. pic.twitter.com/n84kSgkg4q
Reminded me of my Borosil renewables chart of last year in July.
AWL - look at the ranges of contraction on the chart https://t.co/2XMhqZQu8X
AWL - look at the ranges of contraction on the chart https://t.co/2XMhqZQu8X
Borosil Renewables - Patterns like these must be looked at carefully and must be kept on the radar. Herein price is contracting which generally signifies shifting of hands (from weak to strong). If you go wrong, the risk is limited in these. pic.twitter.com/iqyoeslZjy
— The_Chartist \U0001f4c8 (@charts_zone) July 12, 2021