I've decided to show tonight's chart as a line chart. This will allow us to filter out the noise and concentrate on the closing daily prices.
After the breakout of the $6.98 level, price came back to that former resistance level, held, and now has been trading higher. Former support becomes resistance.
In the last couple of days, price broke out again above the 1.236 level and has now re-tagged it. There's a good chance of price moving higher. Breakout, re-tag breakout price, breakout, re-tag, wash, rinse, repeat. This is bullish and a good thing. :-)
There's also a chance that price will move sideways. But this will give the Bollinger Band's midline a chance to catch up, letting price bounce off of it before moving higher. In either case, this is a bullish chart.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
After the breakout of the $6.98 level, price came back to that former resistance level, held, and now has been trading higher. Former support becomes resistance.
In the last couple of days, price broke out again above the 1.236 level and has now re-tagged it. There's a good chance of price moving higher. Breakout, re-tag breakout price, breakout, re-tag, wash, rinse, repeat. This is bullish and a good thing. :-)
There's also a chance that price will move sideways. But this will give the Bollinger Band's midline a chance to catch up, letting price bounce off of it before moving higher. In either case, this is a bullish chart.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
