Long Term Bear Trend Line From ATH Approaching
The heavily watched bear trend line from the ATH is fast approaching -- ideally I would like to see price action sleep walk through that area and then take off to the upside.
I also added the triple bollinger bands to show how tight we have gotten on the weekly scale -- you actually have to go back to early 2013 pre-$266 bubble to find us this tight on the bands suggesting an explosive move out of this consolidation.
Lastly , SCMR trends has printed a signal for long entry that looks very compelling to take a long position with a tight stop. I am looking for this to pick up some upside steam in the next 1-2 weeks -- specifically mid-July
I also added the triple bollinger bands to show how tight we have gotten on the weekly scale -- you actually have to go back to early 2013 pre-$266 bubble to find us this tight on the bands suggesting an explosive move out of this consolidation.
Lastly , SCMR trends has printed a signal for long entry that looks very compelling to take a long position with a tight stop. I am looking for this to pick up some upside steam in the next 1-2 weeks -- specifically mid-July
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.