BBands set to (30)
Triangles also represent a squeeze on the BBands
The past two squeezes of this magnitude have hit either R3 or S3.
My expectation is that this breakout will do the same. Although admittedly, the pivot math is greatly altered due to the BFX hack selloff, so therefore the S3 pivot at 2270CNY may be a little low, but does fall within previous support of the ascending triangle.
Sitting flat at the moment, waiting for the direction to be decided.
Triangles also represent a squeeze on the BBands
The past two squeezes of this magnitude have hit either R3 or S3.
My expectation is that this breakout will do the same. Although admittedly, the pivot math is greatly altered due to the BFX hack selloff, so therefore the S3 pivot at 2270CNY may be a little low, but does fall within previous support of the ascending triangle.
Sitting flat at the moment, waiting for the direction to be decided.
Comment:
reaching for the monthly R3 quite nicely
Trade closed: target reached
not much vol follow-through atm