Long
LUNA looking strong; 44% rise in 6 days
LUNA did not even reach down to the 78.6% Fibo retracement. After a constricted Bollinger Band, it just bounced from ma200 red line & went above all MAs. In 6 days making a 44% gain.
Now it went back inside that upchannel & is now testing the median line.(wave 5 continues)
I believe this upchannel will resume with that big green weekly engulfing candle.
On the downside, there is still a chance it might be rejected by that black uptrendline from wave 2 low & go back down to retest the FIBO 0.854 support zone (an extended ABC) before a big move up back to ATH at 106.
Not trading advice
Now it went back inside that upchannel & is now testing the median line.(wave 5 continues)
I believe this upchannel will resume with that big green weekly engulfing candle.
On the downside, there is still a chance it might be rejected by that black uptrendline from wave 2 low & go back down to retest the FIBO 0.854 support zone (an extended ABC) before a big move up back to ATH at 106.
Not trading advice
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