A quick update on my previous bearish/bullish scenario.
The original post is here... it is a long read but will give you a good understanding of the crossroads we are at:
When taking into account the magnitude of the breakdown that we are watching for, we must take longer term trendlines into account...
I've drawn in the longer term support like with the 5800 and 7300 touches, which means confirmation of the break down below 7700 can only be confirmed below the trendline, which means a breakdown below 7600 with volume and power what we are watching for.
Good luck and trade cautiously.
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
The original post is here... it is a long read but will give you a good understanding of the crossroads we are at:
When taking into account the magnitude of the breakdown that we are watching for, we must take longer term trendlines into account...
I've drawn in the longer term support like with the 5800 and 7300 touches, which means confirmation of the break down below 7700 can only be confirmed below the trendline, which means a breakdown below 7600 with volume and power what we are watching for.
Good luck and trade cautiously.
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
I just pressed play on the chart... and its definitely following the pink bullish trend!
To see it better:
- hover mouse near the center/bottom of the chart to make the 5 popup buttons appear: < - refresh + >
- press + a bunch of times
- on the right hand scale where the prices are (7500, 7600, etc), click and drag upwards. This zooms the scale and unlocks chart dragin.
- click in the main chart area and drag to the current price area.