How we navigate this level, as shown on 4h time series, is crucial. I am long and betting ona breaking of the short term green down trend, and long term 620-630 level. However, we could easily go test the lower up sloping trend in the 590-600 range...if we hold that again, the up move will come, but man this has been a slow drip. I set over night stops at 580...
Hope you bought that 580, b/c we should retest the 615-620 area, based on the bounce of the upper down trend pitchfork. We fail there again, and I'll dump it looking for better entry. However, I still have the long basis on a move up to test 700, and I am long from ~568 waiting it out. Follow Sherem if you want more detailed analysis on what I am thinking. He...
Clear breakout of ptich fork down trend assuming 360 was a real bottom, on the 1d, 4h, and 45min. i see all the same levels breaking. we hold above the 620 area, and a challenge of 715-725 should be in the offing. I'm long from avg of 568...missed the 360 buy, but bought the retrace. a longer term up trend can only be confirmed by new highs above the 830 area,...
here's the retrace...do we hold? peep the 1d chart's Stoch RSI if you're nervous.
Should get a solid bounce off the 350-400 area, but if that breaks, 250 is gonna be my next buy target.