LINK - IS THE MOVE OVER??
After a nice push up to $2.35, we are amidst an expected pullback. LINK has traded within nice structure in the past, and I believe that it will continue to do so into 2020. With that considered, where are we going from here?
A) Price will retest the $2.00 support zone before we see another retest of the $2.35 resistance (Option A).
B) Price will continue consolidating sideways then will make another push to the $2.35 resistance level without falling past the MA20 on the 4hr time frame (Option B).
In any case, I believe it is extremely important to have a plan to be able to take educated action when the time comes. I will be opening a long position at the end of this pullback (option A above). If the extended pullback doesn't occur, I will be looking to buy a strong break of the $2.35 resistance (option B)
I've created a trading plan for both scenarios - DM me and I will share it with you!
A) Price will retest the $2.00 support zone before we see another retest of the $2.35 resistance (Option A).
B) Price will continue consolidating sideways then will make another push to the $2.35 resistance level without falling past the MA20 on the 4hr time frame (Option B).
In any case, I believe it is extremely important to have a plan to be able to take educated action when the time comes. I will be opening a long position at the end of this pullback (option A above). If the extended pullback doesn't occur, I will be looking to buy a strong break of the $2.35 resistance (option B)
I've created a trading plan for both scenarios - DM me and I will share it with you!
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