Well well well....sometimes it pays to sit back, and look at the big picture. I admit i also get caught up swinging here and there, and locked on 1 day time frames, 4hr time frames...and smaller hehe
But have a look at the 1 week time frame!
We have only done a simple correction, and yes it is close to the end...but is it there yet?
From what i can see we have NOT yet hit the 200 EMA. Now on a big correction this will have every now and again...but we aren't there. The question is what will happen here:
1. MACD is on the 3rd down wave, and ready for a reversal in a upward direction...small or large, it is ready
2. We could make it up a little than crash well past the current support this year, and finally tag the 200 EMA
Just for a market comparison, look at LTC also on the 1 week. It has broken its 2018 support line, and is tracking for the 200 EMA soonish maybe...after this small pump move on the horizon.
Thanks & eat your vegetables,
Johny Button
But have a look at the 1 week time frame!
We have only done a simple correction, and yes it is close to the end...but is it there yet?
From what i can see we have NOT yet hit the 200 EMA. Now on a big correction this will have every now and again...but we aren't there. The question is what will happen here:
1. MACD is on the 3rd down wave, and ready for a reversal in a upward direction...small or large, it is ready
2. We could make it up a little than crash well past the current support this year, and finally tag the 200 EMA
Just for a market comparison, look at LTC also on the 1 week. It has broken its 2018 support line, and is tracking for the 200 EMA soonish maybe...after this small pump move on the horizon.
Thanks & eat your vegetables,
Johny Button