Bounced Off The Broken Green Extended Line Creating A New HL...
And now the following could probably happen:
1. Price could go straight up now on it's second leg of the bull rally. If it does, long at $8300, but watch for any FU moves, could wick out and reverse. (Less likely scenario)
2. A correction to the Golden .618 ratio at $8143 and even down to the .5 @ $8092 before continuing the bull rally. (More likely scenario)
Immediate Targets:
a. $8568
b. $8635
3. Drop back down to the support level - broken green extended line. (More likely scenario)
Things are always bound to change. Never let your guard down.
We know that fractals could repeat themselves. Here's how the next move could play out if the second scenario ensues (bearish divergence need to be fulfilled).
I'm now currently waiting and sitting on my hands to see where price is going. For now, just planning for an attack.
For downside targets, pls refer to these charts:
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
And now the following could probably happen:
1. Price could go straight up now on it's second leg of the bull rally. If it does, long at $8300, but watch for any FU moves, could wick out and reverse. (Less likely scenario)
2. A correction to the Golden .618 ratio at $8143 and even down to the .5 @ $8092 before continuing the bull rally. (More likely scenario)
Immediate Targets:
a. $8568
b. $8635
3. Drop back down to the support level - broken green extended line. (More likely scenario)
Things are always bound to change. Never let your guard down.
We know that fractals could repeat themselves. Here's how the next move could play out if the second scenario ensues (bearish divergence need to be fulfilled).
I'm now currently waiting and sitting on my hands to see where price is going. For now, just planning for an attack.
For downside targets, pls refer to these charts:
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
評論:
Here's exactly what I was talking about these FU moves - wicks and reversals.
WATCH OUT for these stop hunting bots!!!
WATCH OUT for these stop hunting bots!!!
評論:
I’ve adjusted the Fib Ret Tool a tiny bit, and the .618 is at $8168, price have touched that Golden Ratio about 5 times and price had bounced off of it. Price has now formed a Falling Wedge and price is inching out of the top line of that yellow Falling Wedge.
評論:
Price now ranging in a bull flag it created bordered by the red resistance bar and green support bar. This still has a bullish bias to it, and could probably continue it's bull rally when this pattern matures.
評論:
A Pump, A Dump, Consolidation... What's happening next?
Check out this chart for probable price action in the very short term.
Check out this chart for probable price action in the very short term.
Waiting For A Bullish Inverted Hand Pattern To Form.
Check out my Squiggly Mustache Pattern.