It is clear to me that it is slowly losing momentum from the RSI, although still above 50.
There is indecision, and mostly been in compression as you can see by the coiling around the closest HVN (high value node, or most agreed price around 2688).
I can only say that a big move is about to happen soon, either up or down. Watch for the break of the upper or lower trendlines.
If looking to go long, I am looking at the first support line at around 2540, and /or second line of support at around 2250. I myself want to pick up some more, let's see how it plays out. Patience pays if wanting to buy. Lastly, first line of resistance at around 2900. Then Kaboom, holding above is clear blue skies.
Happy weekend. Until my next post, live well.
There is indecision, and mostly been in compression as you can see by the coiling around the closest HVN (high value node, or most agreed price around 2688).
I can only say that a big move is about to happen soon, either up or down. Watch for the break of the upper or lower trendlines.
If looking to go long, I am looking at the first support line at around 2540, and /or second line of support at around 2250. I myself want to pick up some more, let's see how it plays out. Patience pays if wanting to buy. Lastly, first line of resistance at around 2900. Then Kaboom, holding above is clear blue skies.
Happy weekend. Until my next post, live well.
Trade closed: target reached:
Big move down, right shoulder confirmed. The way to play this is by evaluating the break with price action. Someone kept commenting duh is either up or down; make it as you will, if you know how to trade the information shared is for evaluating possible market moves and how to react when that happens. When a trader makes such comment, it only means they are seeking validation from another trader in order to enter their own trade. I am not here to tell predict the future, no one can. Have a trade plan, study what to do if this happens or that happens, then execute if thesis seems to play out.