My Ascending triangle is just a Bull Flag/Channel now. Boom!
Folks, if you recall my last analysis I called for an ascending triangle and we got that. We launched up before coming back down into the support area of the triangle. At that point, the triangle to the upside was still valid. If you look, we knew that if it broke significantly below, only then would we get a pull back. There have been a lot of people on here spewing idea's every day to gain followers or whatever. It's not going so hot for them right now. Most of them were calling short entries at 5400. But why? We aren't at a major inflection point. That comes when we start hitting the 6250 range.
Now my triangle has just turned into an ascending bull flag/channel. As long as we stay in this channel, we have more upside. The downside is now even more limited since we have made this higher high. RSI broke this trendline but it still shows some divergence, however it appears like the divergence will be invalidated, but it could stay i this channel. We'll have to see how that plays out. While MACD is very much in positive territory, even indicating a push further to the upside.
Once we get to 6250, we'll lock in profit from our ladder positions from 6k down to 3.3k. at least LOCK IN HALF PROFITS at 6250-6500 area. put a trailing stop on it. We are going to lock in half up at this area and hold the other half for a potential move to 10k. It's looking more possible now that we don't get a major pull back. Little to early to tell, but we are going to only book half profits just in case and wait to see how things form up.
Happy trading and hodling,
-Sherem
Now my triangle has just turned into an ascending bull flag/channel. As long as we stay in this channel, we have more upside. The downside is now even more limited since we have made this higher high. RSI broke this trendline but it still shows some divergence, however it appears like the divergence will be invalidated, but it could stay i this channel. We'll have to see how that plays out. While MACD is very much in positive territory, even indicating a push further to the upside.
Once we get to 6250, we'll lock in profit from our ladder positions from 6k down to 3.3k. at least LOCK IN HALF PROFITS at 6250-6500 area. put a trailing stop on it. We are going to lock in half up at this area and hold the other half for a potential move to 10k. It's looking more possible now that we don't get a major pull back. Little to early to tell, but we are going to only book half profits just in case and wait to see how things form up.
Happy trading and hodling,
-Sherem
Comment:
and we march higher.
Comment:
Moving up quite well, update:
If you are new to following me, make sure you check out my posts on ladders and how I do what I do!