5/26 RIG inv HS or AE bottom?
Updated
From end of April:
5-3-5 Upwards
3-3-5 Downwards?
Possible IHS pattern, but volume was shitty after May 5th. IF IHS is valid, support should not break below $1.16 and ESPECIALLY $1.02.
Correction from top could be a 3-3-5, ending AROUND $0.95 to $0.85- FIB verified.
If correction completes around $0.85, this would be a perfect Adam and Eve bottom.
If support holds around $0.85, this name could launch 100%+ from the neck of the valley at around $1.65. Target of high volume break could be as high as $3.2.
Fib timeline 13(if am doen it rite) suggests June 15th or earlier as a potential bottom. Lucky #13?
I see $0.85 or below in this name and I'm going all in.
4h RSI shows possible HS pattern.
Daily shows 60 rejection but 50 support holding for now.
Still below my blue RSI line on both TF which is crucial multi-month support.
Above 50 MA on daily but 9 MA curling down.
May 18th rejection of .618 from $1.695, possibly starting a wave 1 impulse down for the beginning of a "C" wave.
Limit orders set for 5 contracts, $1 put at 3 cents per, 6/26 expiry 6% capital allocated on RobinHood.
Target is the giant gap that is currently below $1.01
This is an update from the following post:
This is my personal trade setup. I am making it public because I don't frankly care about ego ruining them anymore and my TV account is 28 days away from deletion.
We'll see if I decide to stick around or not. This trade will probably make or break my confidence tbh as I will no longer be trading BTC anymore.
5-3-5 Upwards
3-3-5 Downwards?
Possible IHS pattern, but volume was shitty after May 5th. IF IHS is valid, support should not break below $1.16 and ESPECIALLY $1.02.
Correction from top could be a 3-3-5, ending AROUND $0.95 to $0.85- FIB verified.
If correction completes around $0.85, this would be a perfect Adam and Eve bottom.
If support holds around $0.85, this name could launch 100%+ from the neck of the valley at around $1.65. Target of high volume break could be as high as $3.2.
Fib timeline 13(if am doen it rite) suggests June 15th or earlier as a potential bottom. Lucky #13?
I see $0.85 or below in this name and I'm going all in.
4h RSI shows possible HS pattern.
Daily shows 60 rejection but 50 support holding for now.
Still below my blue RSI line on both TF which is crucial multi-month support.
Above 50 MA on daily but 9 MA curling down.
May 18th rejection of .618 from $1.695, possibly starting a wave 1 impulse down for the beginning of a "C" wave.
Limit orders set for 5 contracts, $1 put at 3 cents per, 6/26 expiry 6% capital allocated on RobinHood.
Target is the giant gap that is currently below $1.01
This is an update from the following post:
This is my personal trade setup. I am making it public because I don't frankly care about ego ruining them anymore and my TV account is 28 days away from deletion.
We'll see if I decide to stick around or not. This trade will probably make or break my confidence tbh as I will no longer be trading BTC anymore.
Note
Correction: 7 contracts waiting on a limit order at 3 cents in Robinhood. Total capital allocated for the put trade will be 8.4%. If this analysis is correct and $0.85 holds, this will be potentially my last all-in trade. Oil is going to make a massive recovery due to Cor9na.
Note
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