I know a textbook "Golden Cross" is when the 50 MA crosses over the 200 MA. I personally use EMAs and I prefer to use the 55 EMA (yellow) and 200 EMA (black).
Regardless - We are about to have our FIRST Bullish EMA crossover / "Golden Cross" on the daily chart!
Also, It appears that we have completed a 5 wave structure up leading to this symmetrical triangle correction wave (continuation pattern) which has just recently broke out bullishly at the apex with increased volume.
Time will tell, lets see if this ages like fine wine.
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Regardless - We are about to have our FIRST Bullish EMA crossover / "Golden Cross" on the daily chart!
Also, It appears that we have completed a 5 wave structure up leading to this symmetrical triangle correction wave (continuation pattern) which has just recently broke out bullishly at the apex with increased volume.
Time will tell, lets see if this ages like fine wine.
If you enjoy my content, please feel free to drop a like or even follow me to receive all of my trading updates.
Thoughts, Comments, Questions, Concerns? Leave a comment below!
Trade active:
Update: The Golden Cross has official happened as of today, the price is now up 30%.
Party time!
Party time!
Comment:
1st target above $4.90 was well exceeded. Great profit taking level for now.