Well if you had a sense of humour you’d say this is a nice little channel breakout trade.
Fair disclosure: I totally missed this one too. That's what the gnashing of teeth is for.
Many markets seem to go from one ‘buy/sell rumour, reverse the fact’ to the next. The #DogeDay420 tag seems like it could turn into one of those moments. Too risky to buy here, but perhaps not so silly to buy on one of those handy flash crashes.
You could draw all sorts of retracement lines and this/that on this chart but come on! There’s nuts and then there's mega crazy nuts.
That said, watch for a little break of that top, the 45 level, and don’t be surprised to see a smack down. Looks pretty ripe. I'm a fan of the false break I have to admit. It's not just a pattern, there's a group behavior that follows it.
As always, solid predictions in fast markets are foolish, but fast markets also look for levels. 30, 25 and 20 are a quick pick. Below 20 and it’s back to the doldrums. Above – and it’s a new paradigm for this one.
Oh and mark this date in your diary: Jun 9. That’s meant to be the next Doge day. Actually, mark a reminder 10 or so days prior and look for a good set up. For whatever the reason, if it moves the market then why not?
Fair disclosure: I totally missed this one too. That's what the gnashing of teeth is for.
Many markets seem to go from one ‘buy/sell rumour, reverse the fact’ to the next. The #DogeDay420 tag seems like it could turn into one of those moments. Too risky to buy here, but perhaps not so silly to buy on one of those handy flash crashes.
You could draw all sorts of retracement lines and this/that on this chart but come on! There’s nuts and then there's mega crazy nuts.
That said, watch for a little break of that top, the 45 level, and don’t be surprised to see a smack down. Looks pretty ripe. I'm a fan of the false break I have to admit. It's not just a pattern, there's a group behavior that follows it.
As always, solid predictions in fast markets are foolish, but fast markets also look for levels. 30, 25 and 20 are a quick pick. Below 20 and it’s back to the doldrums. Above – and it’s a new paradigm for this one.
Oh and mark this date in your diary: Jun 9. That’s meant to be the next Doge day. Actually, mark a reminder 10 or so days prior and look for a good set up. For whatever the reason, if it moves the market then why not?