Ok i thought let's publish the good old chart that has been guiding my trades for the last few months again.
Yes it still plays out pretty well.
As you can see we clearly broke to the downside by breaking the 8.4k line and staying underneath it for a while.
For me that line is now a new resistance.
Next targets on the way down are:
6.5k
4.8k
2.6k
Be aware this is not trading advice and bear in mind that i only do a few trades a year so this is not for daytrading.
I just average in along the targets (even got a few buys lower then these targets) and at the first peak up i exit again.
No that doesn't make me 1000% in profit but it sure does bring a lot more then the 0% interest rate on my savings account :-)
Yes it still plays out pretty well.
As you can see we clearly broke to the downside by breaking the 8.4k line and staying underneath it for a while.
For me that line is now a new resistance.
Next targets on the way down are:
6.5k
4.8k
2.6k
Be aware this is not trading advice and bear in mind that i only do a few trades a year so this is not for daytrading.
I just average in along the targets (even got a few buys lower then these targets) and at the first peak up i exit again.
No that doesn't make me 1000% in profit but it sure does bring a lot more then the 0% interest rate on my savings account :-)
We cut a little deeper then expected, all that tells me is that chances increase to reach the next downtrend target @4.8k.
But first we might see a little run up to the newly created resistance @6.5k.
As i said from there there is a pretty big chance for a drop to 4.8K
Again no financial advice.
Just don't get greedy now and be sure to hold back some flat to buy the possible new drop.
Good luck in this beautifull markets