Hi all,
Quick update on my last post - again sorry for the messy chart, I seem to work better this way. Anyway, still eyeing the 7.2k zone. My previous analysis had 7k - 7.4k as an areas of interest.
Looking as if we now have now pushed in to a wave three of the larger five, I'm looking to see the price hit 1.618 - 1.75 which would take us to the 7.5k area. A new recent low however we can observe prior support here from June of this year.
A wave four up of similar magnitude to the wave two would take us to 7.8k, which would also encounter with our recent lows as resistance.
Should all this go to plan, then looking for a wave five of five down to 7.2k ish , interestingly in this area we've got a few support zones of interest:
- 0.618 of 3-14k
- Target at -0.236
- Wolf 300% target
- Trend line dating from 2017
Fingers crossed is all I can say, I'm short from 8800 and plan on closing around 7400.
Quick update on my last post - again sorry for the messy chart, I seem to work better this way. Anyway, still eyeing the 7.2k zone. My previous analysis had 7k - 7.4k as an areas of interest.
Looking as if we now have now pushed in to a wave three of the larger five, I'm looking to see the price hit 1.618 - 1.75 which would take us to the 7.5k area. A new recent low however we can observe prior support here from June of this year.
A wave four up of similar magnitude to the wave two would take us to 7.8k, which would also encounter with our recent lows as resistance.
Should all this go to plan, then looking for a wave five of five down to 7.2k ish , interestingly in this area we've got a few support zones of interest:
- 0.618 of 3-14k
- Target at -0.236
- Wolf 300% target
- Trend line dating from 2017
Fingers crossed is all I can say, I'm short from 8800 and plan on closing around 7400.
Trade closed manually:
Closed and sitting on the sidelines for now. I observe a completion of the fifth but we could still impulse down after a small retrace. Long seems a little dangerous right now.
