No time for written analysis. Could break up too. Not sure if I expect the rebound to surpass 7600. Simply a decent short play here if you got or can get some bids filled up high with a tight stop above 7575-7600.
Comment
⋅
Here is what I am expecting from a zoomed out view.
Comment
⋅
Hit the top of my target to a T... .more downside likely. I did not adjust this graph at all.
Comment
⋅
That took a whole 30 mins from when i posted to reach my target lol. Still think some downside is likely but picked up a small amount at 7320. Crossing my fingers that I can just hold this long I'm building for awhile and that we did in fact find the bottom at 7040. In hindsight, we've still had a lower low on the down trend and this drop confirms a lower high so be careful longing, we are in a down trend, but as for my longer term portfolio I'm adding some longs here on down. Which I will cut under 6.9k if we get there.
Trade closed: target reached
⋅
This looks very good and almost to the T what I predicted. Added some more to my longs with bids down into the 7230 range as well. Will cut below 6.9k and move stop into profit as we move up here.
Comment
⋅
Just FYI - I closed my longs for now. Waiting for a better setup. The last 4hr close, the 6hr close, and this 4hr that's about to close all point down. If anything I'd short here.
Comment
⋅
*Not short here, short at the next resistance if we get a weak little pump
Comment
⋅
I see this going back down to 7050 range to set a higher low and begin to fill out a triangle.
Comment
⋅
If you made money off this leave a comment lol
Trade closed: target reached
⋅
Nuff said. Still looking for a swing low again. Here's my perspective right now. Bearish wedge leading to the 7050-7100 I was talking about for a bounce.
That took a whole 30 mins from when i posted to reach my target lol. Still think some downside is likely but picked up a small amount at 7320. Crossing my fingers that I can just hold this long I'm building for awhile and that we did in fact find the bottom at 7040.
batstat
⋅
@blesdawg, Are you still expecting a shop-finding dump after a higher high is put in? or it will just rally higher from here? Are you adding to shorts or looking to go long now? Looks pretty strong with good follow through volume.