Accumulation Wedge- A possibility, In this pattern price forms a resistance which it formed in 293.80 -comes back & again tries to take out the resistance which it did & formed a new resistance at 296.90 then falls back again in the pattern finally to take out with a large bull candle.
Trading Strategy- Prices should fall to 296.90 handle or close by & start bouncing -there could be long opportunity (obviously -you have put the recent swing low as stop trade), but as a trader -you have to keep a watch & let say if prices go below the 289.35 swing low then likely bears will come into action.
Previous Update - Channel was broken at 289 -went to 285-286 handle & bounced -so always a trader has to put cost stop loss so that he doesn't lose anything even if the trade washes him out.
Previous to Previous Updates- we travelled big distance from 312 to 277 bottoms & even got the bounce from 277 to 292.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw