Bring back technical analysis . Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me something. I don't care if we're on the same side of the trade, or on opposite sides, but at least justify your position?
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: Falling wedge. ABCDE we're on C currently heading to D. It will be interesting to see if it gets rejected at D and completes the proposed Wedge pattern or not. I'm hesitant to propose that it will fall to E because of the Hard Support zone but the long term trend would suggest it. We shall see!
Conclusion:
Short term - Bull (Oversold bounce as we travel to D)
Medium term - Bear (Will get rejected at D and fall to E to complete wedge)
Long term - Bull (nearing end of falling wedge)
If you don't have anything to add to the conversation, don't detract from everyone else's by humming.
#BringBackTechnicalAnalysis
Chart self explanatory: Falling wedge. ABCDE we're on C currently heading to D. It will be interesting to see if it gets rejected at D and completes the proposed Wedge pattern or not. I'm hesitant to propose that it will fall to E because of the Hard Support zone but the long term trend would suggest it. We shall see!
Conclusion:
Short term - Bull (Oversold bounce as we travel to D)
Medium term - Bear (Will get rejected at D and fall to E to complete wedge)
Long term - Bull (nearing end of falling wedge)