Perfect bounces in the trend channel plot the path of the bull.
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As many of you may have noticed that REN has formed a consistent trend channel on the lower time frames. However the consistency of the intra trend bounces is truly surprising. For the last couple of days or so every bear move has formed a 58 degree angle from peak to trough whereas every single bull move has been marked by a 72 degree angle from Trough to peak. The similarities don’t end there as every bull rally in this short channel has add 11-12 cents in price.
As long as this trend remains intact Itseems the wisest course of action would be to follow it hence I’ll probably be going long at $0.505 and closing the trade at $0.605 (sold at 0.558).
What do you guys think? Anything to this analysis or just mindless ramblings? Let me know with ur likes and comments. Thanks For your time guys!
As many of you may have noticed that REN has formed a consistent trend channel on the lower time frames. However the consistency of the intra trend bounces is truly surprising. For the last couple of days or so every bear move has formed a 58 degree angle from peak to trough whereas every single bull move has been marked by a 72 degree angle from Trough to peak. The similarities don’t end there as every bull rally in this short channel has add 11-12 cents in price.
As long as this trend remains intact Itseems the wisest course of action would be to follow it hence I’ll probably be going long at $0.505 and closing the trade at $0.605 (sold at 0.558).
What do you guys think? Anything to this analysis or just mindless ramblings? Let me know with ur likes and comments. Thanks For your time guys!
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