jscorp1618

jscorp1618

Quick mover, look out below.

jscorp1618

Divergence showing

jscorp1618

Support held and bullish divergence showing.

jscorp1618

The pullback was to be expected since we stretched outside of the Bollinger Band. Bulls are accumulating near the trend line which is evident by the long wicks and volume.Since I'm a ST trader I can't say for sure if we will break the 2nd level of resistance but from a R/R ratio, going long makes sense.

jscorp1618

Once we hit my ST target we should bounce. If we have a strong bounce then we may continue our uptrend, now if the bounce is weak we will likely enter a longer term bearish market. I'm especially watching the 50/200EMA "Death Cross".

jscorp1618

I've been short for quite some time now expecting this bubble to pop. However, after looking at the big picture, I'm convinced that we will have another run before this takes place. We need volume to reinforce this bull-case. I will continue to evaluate the action and update accordingly.

jscorp1618

Pretty straight forward here. Waiting for confirmation.