A soup of tribal knowledge... distilled for my own pleasure.
What I'm watching for...
Black - Price action. Money will be made here by market makers, and minnows.
Blue - The bull flag we're forming, as part of the right shoulder of the infamous iH&S pattern forming. There are other patterns at work here, cup & handle, etc... It's all building up to be a BIG move UP.
#1 - Purple - A retest of the 50/200 EMA crossover, to setup the bottom of the right shoulder of iH&S. @ 10-9.7k.
#2 - Dark Red - We continue up the iH&S. Top of the bearish channel. @ ~10.9k
#3 - Dark Green - We reach the iH&S neckline. @ ~11.6k
#4 - Green - What a new bull channel could look like. Dates used listed below.
Top green - Drawn from top of to top of .
Bottom Green - Drawn from bottom of to bottom of .
Black - Price action. Money will be made here by market makers, and minnows.
Blue - The bull flag we're forming, as part of the right shoulder of the infamous iH&S pattern forming. There are other patterns at work here, cup & handle, etc... It's all building up to be a BIG move UP.
#1 - Purple - A retest of the 50/200 EMA crossover, to setup the bottom of the right shoulder of iH&S. @ 10-9.7k.
#2 - Dark Red - We continue up the iH&S. Top of the bearish channel. @ ~10.9k
#3 - Dark Green - We reach the iH&S neckline. @ ~11.6k
#4 - Green - What a new bull channel could look like. Dates used listed below.
Top green - Drawn from top of to top of .
Bottom Green - Drawn from bottom of to bottom of .
Trade closed: target reached:
#1 - Right shoulder is continuing to build out, as each bull flag is moving upwards.
Heading towards bear channel @ ~10.9k
Are we going to continue to reach for the iH&S neckline?
Heading towards bear channel @ ~10.9k
Are we going to continue to reach for the iH&S neckline?
Trade active:
Sorry guys. Trade is still active, holding positions bought in @ 9.4k.