Yesterday I was fully entered into my long at an average price of $9,645. I was expecting the price to support above $9,500 before breaking through $10,000 early this week. It didn’t worry me too much when we broke down through that level. I updated the daily post to say that:
“I think there should be a lot of support from $9,000 - $9,200. Building a long in that area provides a very attractive risk:reward ratio.”
This morning I feel the same way. If not in a position it could be a very good opportunity to build a long.
Bullish Indicators
Horizontal support from $9,000 - $9,200
Trend support (blue dotted line)
Support from Ichimoku Cloud
Multiple reversal dojis
The current candle is about 20 minutes away from closing as I type this. If it were me I would wait for it to close above the blue dotted line, which would also form a nice dragonfly, and use that as my final confirmation for entry.
As long as we stay above $9,000 I will be feeling good about breaking $10,000 sooner rather than later!
Happy Trading and go bulls!
“I think there should be a lot of support from $9,000 - $9,200. Building a long in that area provides a very attractive risk:reward ratio.”
This morning I feel the same way. If not in a position it could be a very good opportunity to build a long.
Bullish Indicators
Horizontal support from $9,000 - $9,200
Trend support (blue dotted line)
Support from Ichimoku Cloud
Multiple reversal dojis
The current candle is about 20 minutes away from closing as I type this. If it were me I would wait for it to close above the blue dotted line, which would also form a nice dragonfly, and use that as my final confirmation for entry.
As long as we stay above $9,000 I will be feeling good about breaking $10,000 sooner rather than later!
Happy Trading and go bulls!
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