Good morning all.
We've had a fun few weeks haven't we? Jeez! There has been a few 'underpants filling' candles for sure! If you made some money from those moves then well done, i think most got hammered though.
So, i'm thinking that over the next day or so we see a revisit into the low 5's to test daily and weekly support there (highlighted with green and purple lines), which will be a fake down out of the current falling wedge we see ourselves in on low time frames.
From there i think we see a small rounded bottom before heading RSI at that point too i would think.
Time will tell. Be safe.
We've had a fun few weeks haven't we? Jeez! There has been a few 'underpants filling' candles for sure! If you made some money from those moves then well done, i think most got hammered though.
So, i'm thinking that over the next day or so we see a revisit into the low 5's to test daily and weekly support there (highlighted with green and purple lines), which will be a fake down out of the current falling wedge we see ourselves in on low time frames.
From there i think we see a small rounded bottom before heading RSI at that point too i would think.
Time will tell. Be safe.
Trade closed: stop reached:
Well this idea died literally an hour after i posted it!
Very, very bad idea that i felt was very strong at the time.
That's what you got when you feel too confident.
Very, very bad idea that i felt was very strong at the time.
That's what you got when you feel too confident.
Comment:
Reached target but without the drop into the 5's. Oh well.