Price action manged to break lower as expected and hit the $1.00 zone pretty much to a T. At the moment, my charts are telling the potential is still there for a little more down zone even thought I would like to see price action make a huge move up.
My bias is that price action may break the fibo zone i mention in the video and move to the zone just below, which i have setup a buy order to chat price if we make take another little dip. At the moment, I don't have a specific target, but will re-address that again in the morning.
All in all in happy with how price action is playing out and meeting all my expectations.
I hope you enjoyed the video, give me a like and leave me comment with your thoughts.
My bias is that price action may break the fibo zone i mention in the video and move to the zone just below, which i have setup a buy order to chat price if we make take another little dip. At the moment, I don't have a specific target, but will re-address that again in the morning.
All in all in happy with how price action is playing out and meeting all my expectations.
I hope you enjoyed the video, give me a like and leave me comment with your thoughts.
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So it looks like price action did decide to break the black trend line and roll over to the area ($.90 area) I mentioned in my video update.
It's nice to see my thoughts playing out more and more consistently. So price action did move down and just about touch a weekly .786 fib level and has since pulled back up a bit. If we break this fib, price will likely move to the new red zone added to the chart (see chart).
My bias remains more to the downside vice shooting back up based on
1. price action is below 200EMA on all charts expect on daily
2. no real sign on those charts it's looking to go back up at the moment.
3. I'll need to see price move back above the 200EMA on at least the 1 hour for that bias to start to change.
Personally, I'm thinking price action is looking for a touch of the 200EMA on the daily chart. Look at it in this chart and notice how the 200EMA on the daily aligns perfectly to the red zone, i said is next to be hit if we break the weekly .786 fib.
It's nice to see my thoughts playing out more and more consistently. So price action did move down and just about touch a weekly .786 fib level and has since pulled back up a bit. If we break this fib, price will likely move to the new red zone added to the chart (see chart).
My bias remains more to the downside vice shooting back up based on
1. price action is below 200EMA on all charts expect on daily
2. no real sign on those charts it's looking to go back up at the moment.
3. I'll need to see price move back above the 200EMA on at least the 1 hour for that bias to start to change.
Personally, I'm thinking price action is looking for a touch of the 200EMA on the daily chart. Look at it in this chart and notice how the 200EMA on the daily aligns perfectly to the red zone, i said is next to be hit if we break the weekly .786 fib.
Comment:
Better capture of the daily chart.
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I'll just leave this screen capture right here.... HMMMM!!!
Comment:
