Bounce baby bounce
Working away from 3 increasingly steep downchannels.
Downchannel escapes are the blue rectangles.
There was a failed escape from the steepest (red) downchannel, followed by a successful escape.
The failed exit belies bullish exuberance and that upchannel may hold some future price targets.
The successful exit gives away the support zone (lower yellow line) that becomes the "we have a problem" price point if it gets broken.
The successful exit's upchannel intersects with downchannel 2/3 and becomes the "we have a situation" price point if it gets broken.
*****BUT LOOK AT THOSE BOUNCES****
The purple parallelogram is my immediate starry-eyed hopeful target.
Vdub Sniper buy signal is triggered, but that's still not gospel.
If all goes well, there won't be a "we have a problem" moment.
If all goes GREAT, we escape the 3/3 (white) downchannel, and target 20k for Q2 2018.
Work the muck, and I'll see y'all come harvest time.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
IGNORE THE RSI STRATEGY ON THE BOTTOM. PARAMETERS ARE FROM A DIFFERENT CHART.
Downchannel escapes are the blue rectangles.
There was a failed escape from the steepest (red) downchannel, followed by a successful escape.
The failed exit belies bullish exuberance and that upchannel may hold some future price targets.
The successful exit gives away the support zone (lower yellow line) that becomes the "we have a problem" price point if it gets broken.
The successful exit's upchannel intersects with downchannel 2/3 and becomes the "we have a situation" price point if it gets broken.
*****BUT LOOK AT THOSE BOUNCES****
The purple parallelogram is my immediate starry-eyed hopeful target.
Vdub Sniper buy signal is triggered, but that's still not gospel.
If all goes well, there won't be a "we have a problem" moment.
If all goes GREAT, we escape the 3/3 (white) downchannel, and target 20k for Q2 2018.
Work the muck, and I'll see y'all come harvest time.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
IGNORE THE RSI STRATEGY ON THE BOTTOM. PARAMETERS ARE FROM A DIFFERENT CHART.
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.