Update:
We fell out the bear flag, successful short, however that leg is finished for now having a solid bounce from 0.53ish
The next move is around this pennant
We either break upwards which could send us to re-test the most recent high of 0.80, or we fall out the bottom and create a huge descending triangle with the major level 0.46 as the bottom line
From that we could move either way also, but most likely up due to the current fundamental strength!
If we loose the pennant I may look to close some positions and anticipate we drop to around 0.46 where I would re-enter!
#bullorbear
We fell out the bear flag, successful short, however that leg is finished for now having a solid bounce from 0.53ish
The next move is around this pennant
We either break upwards which could send us to re-test the most recent high of 0.80, or we fall out the bottom and create a huge descending triangle with the major level 0.46 as the bottom line
From that we could move either way also, but most likely up due to the current fundamental strength!
If we loose the pennant I may look to close some positions and anticipate we drop to around 0.46 where I would re-enter!
#bullorbear