Last one standing
2023-04-06

W‌hy I don't like this chart pattern for $Microsoft(MSFT)$  ‌?




Forget about the AI. Forget all the noises and let's just purely look at price action. I don't like what I see. Doji followed by a Bearish Engulfing. Especially when price has been rallying before that. Why? 


Because it can be a signal for reversal. Whether it's a big reversal like the one in Aug 2022 or a "small" reversal like Dec 2022, I have no idea. But I know I definitely won't go long at this point. 


Good luck traders. Cheers. Happy Holidays in advance!

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Comments

  • ThunderPat
    2023-04-09
    ThunderPat
    Great observation. Thank for sharing
  • psk
    2023-04-10
    psk
    thanks for sharing
  • CYau
    2023-04-12
    CYau
    Like
  • Michaaeel
    2023-04-10
    Michaaeel
    👍
  • Bons
    2023-04-10
    Bons
    ok
  • BenGI
    2023-04-10
    BenGI
    cool
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