It appears to me that uptrend is going to continue, Although I expect the price to consolidate at 0.618, it goes up after reaching near almost 0.382.
The AB=CD pattern is going to be formed, it seems to me, should the price start a little consolidation after touching either 2.24 or 2.618, where the upper band (Bolinger bands) is expected to be confronted by the price.
On a daily chart, the price has just mounted above 20MA creating a golden cross with 5MA, and this may well be a confirmation of a long rally, or Wave 3, I think,
The gist is that should the price turn around at a pontential reversal zone, it will be fitting to take a long position during consolidation, perhaps at 2150 yuans
However, should the price go well beyond the potential zone, at which point it breaks through a upper Bolinger band, it will be clearly a strong sign of an extened rally, and I think in this event, it will be also suitable to go long then.
I bought half at 2167 yuans, as soon as the price went beyond B point, and think it is appropriate to just watch closely where it is going to end up.
I have liquidated all long positions at 2275.
Thank you for reading.
The AB=CD pattern is going to be formed, it seems to me, should the price start a little consolidation after touching either 2.24 or 2.618, where the upper band (Bolinger bands) is expected to be confronted by the price.
On a daily chart, the price has just mounted above 20MA creating a golden cross with 5MA, and this may well be a confirmation of a long rally, or Wave 3, I think,
The gist is that should the price turn around at a pontential reversal zone, it will be fitting to take a long position during consolidation, perhaps at 2150 yuans
However, should the price go well beyond the potential zone, at which point it breaks through a upper Bolinger band, it will be clearly a strong sign of an extened rally, and I think in this event, it will be also suitable to go long then.
I bought half at 2167 yuans, as soon as the price went beyond B point, and think it is appropriate to just watch closely where it is going to end up.
I have liquidated all long positions at 2275.
Thank you for reading.
