Red Trend Line: The overall global picture of where the market is going.
Blue Trend Line: Indicates sellers not having hope in a further rise of price.
Golden Line of Profits: Shows three touches (reliable), thus if penetrated I would expect a 100% move of that of which the previous move based on the historical patterns of previous dumps.
Green Trend Line: The healthy growth line.
If it does not penetrate the Golden Line of Profits before or at the apex I would expect either a 50% retracement or another touch of the Red Trend Line.
Blue Trend Line: Indicates sellers not having hope in a further rise of price.
Golden Line of Profits: Shows three touches (reliable), thus if penetrated I would expect a 100% move of that of which the previous move based on the historical patterns of previous dumps.
Green Trend Line: The healthy growth line.
If it does not penetrate the Golden Line of Profits before or at the apex I would expect either a 50% retracement or another touch of the Red Trend Line.
Comment:
The price did not touch the golden line of profits, therefore no position was taken.