Hi All,
I think we are on the verge of a sharp correction.
What is more I have noticed a very interesting pattern.
Since our ATH in Aug 2011 every 350 days we have a deep local bottom followed by a sharp rise - a V-shape price action.
This on average happens every mid-December, from that point a strong bullish impulsive wave follows, lasting till the end of February.
That is way I will be looking for a short entry opportunity starting from now on (the chart shows that in the last years the correction started around October). The correction will bring the price to a 1350$-1330$ level. Maybe we will even touch a psychological level of 1300$. I am positive that we will re-test the upper blue line of the multiyear triangle, form a V shape pattern and explode to the upside.
While approaching the above mentioned price zones I will be heavily entering long positions, cause the next stop will surely be 1600$ and higher.
GL & HF ;)
I think we are on the verge of a sharp correction.
- We just reached the 50% Fibo level
- There is a beautiful bearish Deep Crab harmonic pattern in play
- RSI extremely overbought - in fact, only 4 times in the last 20 years we have reached this RSI level (82)
What is more I have noticed a very interesting pattern.
Since our ATH in Aug 2011 every 350 days we have a deep local bottom followed by a sharp rise - a V-shape price action.
This on average happens every mid-December, from that point a strong bullish impulsive wave follows, lasting till the end of February.
That is way I will be looking for a short entry opportunity starting from now on (the chart shows that in the last years the correction started around October). The correction will bring the price to a 1350$-1330$ level. Maybe we will even touch a psychological level of 1300$. I am positive that we will re-test the upper blue line of the multiyear triangle, form a V shape pattern and explode to the upside.
While approaching the above mentioned price zones I will be heavily entering long positions, cause the next stop will surely be 1600$ and higher.
GL & HF ;)
Trade active:
Just opened a short position at 1507 $
SL: 1570$
TP: 1350$
SL: 1570$
TP: 1350$
Comment:
adding another short position at 1530 $
