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Gann Box

Crunch time for STRToday (or tonight) could be a decisive moment for STR. We are approaching a point where multiple trendlines, both longer term and shorter term ones, converge with the 61.8 fib line towards a spot area that might mark an important point for STR. (see blue arrows). For one, we are now pretty much smack bang in the middle of two long-term trendlines (purple dotted lines). Additionally, we are getting wedged in between the 0.382 fib speed resistance fan level support, the most recent uptrend (yellow dotted line), as well as the downtrend coming down from the recent high of 449 (red line). So the big question: Quo vadis STR? If we manage to break the 61.8% fib level at 312 again while breaking the downtrend line (red), we could see the next rally to the last Gann fan 8/1 resistance line, but that won't be easy to crack. If STR punches through, that might be the recoil before the breakout. I'll keep my eye glued to two main signals that might mark the breakout from a cup handle. After that potential scenario, I suspect a susbstantial rally is on the cards indeed. Aloha! moontumble
SLong
by moontumble
EMC2/BTC - Gravity is (not) your friendI had a love/hate relationship with EMC2. I put a sell order in at 340 some time back in April, but closed the position as I got impatient, thus to persue other options. BIG MISTAKE ! Disclaimer: I have since gone long again. From a purely technical level, I think Albert is swinging for the fences. No gravitational pull? Barely... I have marked some target zones based on fib levels and circles for the next days and weeks, keeping an eye on it... All the best with your trades... moontumble
ELong
by moontumble