Morning ladies and gents,
Take a look at my last several posts for more info. We're filling out this ascending wedge which is bearish because we're setting higher lows at a lower rate than we're setting higher highs. Also couldn't break 9.6 and hold which as I mentioned in my previous post, was a key level to break and hold to be able to have any bearish optimism. Looking for a target of 7050-7100 before a nice pop back up to and have another crack at 7.6.
If you like money, take a serious look at what I'm saying lol.
Take a look at my last several posts for more info. We're filling out this ascending wedge which is bearish because we're setting higher lows at a lower rate than we're setting higher highs. Also couldn't break 9.6 and hold which as I mentioned in my previous post, was a key level to break and hold to be able to have any bearish optimism. Looking for a target of 7050-7100 before a nice pop back up to and have another crack at 7.6.
If you like money, take a serious look at what I'm saying lol.
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Hidden Bearish Div on the OBV OSC
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Couldn't break 7.6k* lol
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Here we are right now. This triangle could break up or down. I am still bearish regardless. If it breaks up, it will touch the 4hr upper wedge line, and if we go down, it could fiercely bust the wedge down in a matter of seconds. Get ready for the ride.
Trade closed: target reached:
It dropped about $270 outside of the wedge from 9600 to 9330. I wasn't in the trade anymore as I had other business and personal obligations, however, what i would have done in that case is move my stop down into profit as we dropped further while analyzing the lower time frame action to see if I thought the break down would continue.