You sold , what is next ? Who knows ....but ,you know what they say-It is better to miss a good trade than end up in a bad one. I am willing to risk a good trade and possibly end up in a very good one ,here is why.
Skip the main chart and look at the snapshot below (if you have an ultra wide monitor you will be able to see it better,if not then click on the snapshot twice to zoom in and then slide the picture to see it all). Look at the price action on the LEFT -same levels ,somewhat similar action :big move down to the demand zone and then quick big move up to the supply zone and then retest of the demand zone -perfect action to shake off people who bought on the top and make them to sell.Why not to do it again? I can be wrong and OSGN will continue higher and higher ,but in my opinion probability of that is smaller than for it to move down .I marked possible long entry levels based on the price action in the past (refer to the main chart). Now the good question is WHEN OCGN will (if) test the bottom of the demand zone (purple line on the bottom in case if you are not sure what I am talking about ),well based on the action from the past it moved from the top of the spikes all way to the bottom of the demand zone (retested) in 8 and 14 days .Will it happen again? I do not know, so do not take my word for it and do your own DD .Thanks for your time.
Skip the main chart and look at the snapshot below (if you have an ultra wide monitor you will be able to see it better,if not then click on the snapshot twice to zoom in and then slide the picture to see it all). Look at the price action on the LEFT -same levels ,somewhat similar action :big move down to the demand zone and then quick big move up to the supply zone and then retest of the demand zone -perfect action to shake off people who bought on the top and make them to sell.Why not to do it again? I can be wrong and OSGN will continue higher and higher ,but in my opinion probability of that is smaller than for it to move down .I marked possible long entry levels based on the price action in the past (refer to the main chart). Now the good question is WHEN OCGN will (if) test the bottom of the demand zone (purple line on the bottom in case if you are not sure what I am talking about ),well based on the action from the past it moved from the top of the spikes all way to the bottom of the demand zone (retested) in 8 and 14 days .Will it happen again? I do not know, so do not take my word for it and do your own DD .Thanks for your time.
Comment:
Comment:
If OCGN establish support on the green line then that level can be an entry level for the next move higher if OCGN go down pass the green line then listed above entry levels can become valid .Again this is only my opinion and I can be wrong ,so do not take my word as financial advice .