All right guys lets talk moon.
As long as we Hold the purple , we have to assume bullishness as it brings us straight to the top of the mother of all triangle which is our blue line.
On our way to mom, we will be met by:
1. previous top and 0.5 FIB of september 5 downtrend.
2. 0.618 FIB of september 5 downtrend. This is friends. It would be the first time it happens in this whole bear market.
Once we break those and say hi to mom, We are going to ask her if we can go play outside. We are good boys so we will listen to what ever she has to say.
If she says we can go have fun, you can see the the target reaches almost perfectly to our previous september top where we will be met by bear bullies. They dont like bulls around there and well have to see if the bulls can stand up for themselves.
If the bulls end up breaking out this top, there will be euphoria, feelings, and moon talk in this market as it will be the first time it happens in this bear trend.
I expect the euphoria to bring us right up to the 0.618 FIB levels of the july top, not that its very far away. Breaking this and confirming up top of it, would be very as we would have broken 2 downtrends that we are in.
This will be it for the talk tonight guys.
Newbies, now is the time to think about a startegy on how to play this, as this should break out in either direction from today to in the next few days.
Once again, If you like what you read and want to read more like it, make sure you follow me on here and twitter , hit the like button, share your ideas and critics in the comments and most importantly, trade safe.