Tariff relive bounce has reached Golden Genesis fib at $192.34.
That fib is reinforced by tight confluence of a Covid fib at $191.92.
This double-fib Resistance is now key to the whole recovery process.
That fib is reinforced by tight confluence of a Covid fib at $191.92.
This double-fib Resistance is now key to the whole recovery process.
Trade active
Break and POP(yellow shaded area is from posting time)
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Zoom with some notes:
Our resistance zone was quite ready to Reject.
But Trump news blasted us through it nicely.
Then we got a perfect PING on Covid fib.
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So what next?
Looking for a little dip to Covid fib at $205.77
Then bounce to major Resistance at $217.01
Tomorrow is Friday so maybe some profit taking.
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Trade closed: target reached
BOOM, Target HIT(in follow up to last snap shot above)
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So that was more than 14% gains
Closed 50% of the position, trailing stop on rest.
This should continue after some consolidation.
Might buy some back on a significant retrace.
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What next?
There could be a HUGE Leg coming up.
May take a while but $265 is plausible.
BUT a dip or sideways first is likely.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.