CustomKG

CustomKG Updated 

Intense selling pressure the last few weeks has pushed daily indicators down to oversold zones. I'm not one for catching knives, but that wick on the 4hr, 6hr and 12hr is hard to ignore. -0.786 fib holding strong (no surprise there). -Right shoulder support from previous reverse H&S. -Class B hidden bullish divergence on the RSI & MACD. Just before the...

CustomKG

Super bullish outlook, food for thought. Trade safe gang, Custom

CustomKG

RSI showing divergence on the hourly. Not to mention we are sat on some pretty heavy support, with Julys diagonal trendline, the previous reverse H&S neckline at 6650ish, and the 0.718 fib at 6650ish. All is not lost, can still bounce, anything significant will come on the daily close. Trade safe gang, Custom

CustomKG

Looking for a rejection at the resistance of the reverse H&S, laddering shorts between 7140 & 7180 with a tight stop. If we do bounce to the downside- taking profit and adding longs in the early 6900s. Treading carefully here and keeping an eye on price action as right shoulder may fall out at 7050. If this happens, expect a drop to 6600s (.718 fib).

CustomKG

Little reaction from what is widely regarded as strong bullish news has left many expecting another fall back to the low 6000s. Flagging on the lower time frames does appear to back this up, although to me its looking like a expanding wedge which may signal a reversal. We are still to hit Julys trendline and Im looking for the long squeeze to touch it, or false...