Bear flag within a bear flag--short term and long-term targets
Morning folks. This is just a quick update to point out that we now have a bull flag printed within a giant bull flag. This gives us two sets of targets--a short term and long term target.
Note that the bottoms of my buy zones are the full targets of the bear flags--however, because we often do not reach our full targets, I have expanded upwards.
In terms of timing, I anticipate my short-term buy zone to develop over the coming days. The long-term target, if validated, would take a few weeks. Further note that my buy zone emanating from the second bull flag will be invalidated should the larger bull flag continue to print another green stripe up to the top of its range. The larger bull flag (bull flag 1) will, however, remain valid until we see a break up and close above $9,900.
This scenario does not negate the fact that there will surely be inter-day trading opportunities to capitalize on due to high volatility. I however, and focused on making fewer, but smarter trades.
This is for entertainment purposes only and is not trading advice.
Cheers!
Note that the bottoms of my buy zones are the full targets of the bear flags--however, because we often do not reach our full targets, I have expanded upwards.
In terms of timing, I anticipate my short-term buy zone to develop over the coming days. The long-term target, if validated, would take a few weeks. Further note that my buy zone emanating from the second bull flag will be invalidated should the larger bull flag continue to print another green stripe up to the top of its range. The larger bull flag (bull flag 1) will, however, remain valid until we see a break up and close above $9,900.
This scenario does not negate the fact that there will surely be inter-day trading opportunities to capitalize on due to high volatility. I however, and focused on making fewer, but smarter trades.
This is for entertainment purposes only and is not trading advice.
Cheers!
Comment:
Bull Flag 2 confirmed. We have just entered into my first buyzone.