The line must be held
We clearly broke the downtrend resistance.
And yesterday i posted saying i was assuming a retest of that line would be made.
We got it, wicked right off it, like it was meant too.
If we continue to get bullish price action and line is held.
I then projected an elliots 5 wave theory to get some price targets using the Fib tool.
its actually kind of reassuring to where each wave up ends, in relation to previous price action.
If you look on the level 2 order books, no body is selling this, and the buy orders aren't small.
Also, something i will dig into further...
on the far left of the chart... there is a mini run and sell off... before the big parabolic move. oddly.. it looks exactly like the whole marco chart.
put it on the 1hr chart and look a little deeper... IT IS EXACTLY THE SAME.
Looking forward to watching this play out...
My average is $1.91
open to hearing other ideas, and input.
Good luck.
And yesterday i posted saying i was assuming a retest of that line would be made.
We got it, wicked right off it, like it was meant too.
If we continue to get bullish price action and line is held.
I then projected an elliots 5 wave theory to get some price targets using the Fib tool.
its actually kind of reassuring to where each wave up ends, in relation to previous price action.
If you look on the level 2 order books, no body is selling this, and the buy orders aren't small.
Also, something i will dig into further...
on the far left of the chart... there is a mini run and sell off... before the big parabolic move. oddly.. it looks exactly like the whole marco chart.
put it on the 1hr chart and look a little deeper... IT IS EXACTLY THE SAME.
Looking forward to watching this play out...
My average is $1.91
open to hearing other ideas, and input.
Good luck.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.