Morning ladies and gents,
Take a look at my last several posts for more info. We're filling out this ascending wedge which is bearish because we're setting higher lows at a lower rate than we're setting higher highs. Also couldn't break 9.6 and hold which as I mentioned in my previous post, was a key level to break and hold to be able to have any bearish optimism. Looking for a target of 7050-7100 before a nice pop back up to and have another crack at 7.6.
If you like money, take a serious look at what I'm saying lol.
Take a look at my last several posts for more info. We're filling out this ascending wedge which is bearish because we're setting higher lows at a lower rate than we're setting higher highs. Also couldn't break 9.6 and hold which as I mentioned in my previous post, was a key level to break and hold to be able to have any bearish optimism. Looking for a target of 7050-7100 before a nice pop back up to and have another crack at 7.6.
If you like money, take a serious look at what I'm saying lol.
Note
Hidden Bearish Div on the OBV OSCNote
Couldn't break 7.6k* lolNote
Here we are right now. This triangle could break up or down. I am still bearish regardless. If it breaks up, it will touch the 4hr upper wedge line, and if we go down, it could fiercely bust the wedge down in a matter of seconds. Get ready for the ride.Trade closed: target reached
It dropped about $270 outside of the wedge from 9600 to 9330. I wasn't in the trade anymore as I had other business and personal obligations, however, what i would have done in that case is move my stop down into profit as we dropped further while analyzing the lower time frame action to see if I thought the break down would continue.
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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.