Traders, If this area holds, we should get a move to the upside. If you didn't get in on our laddered positions as this pair moved down, this would be a good chance to do so.
We'll be targeting this $7200 area to get out as it moves back up whether you are jumping in now or you laddered your positions in.
Happy trading folks,
-Sherem
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I was clearly early with my call, but finally getting the upside movement we were waiting on. Here is another early call, I bet we form some sort of bull flag from here and then move up.
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What do you know, looks like it's forming a bull flag using that previous support point I pulled across. I also wouldn't be surprised if it tests this next support at 6550ish
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Still just sitting in this bull flag.
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I think we are doing something similar to this last pattern that was forming. Really crappy choppy movement till we get another dump. Luckily right now we are in profit, so we can afford to watch it chop around.
MacD is looking good still and RSI.
Keep an eye on this bottom trend line and support point.
it seems we have fallen below the support line - are you still holding to the 7.2k target? Almost looks to me like the bull flag is invalidated? Thanks again for our valuable postings, closely following! ;)
Sherem
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@Teman_C, yes, still targetting that area with my ladders but we might get more downside first which would change my targets and trigger more ladders
ahmet0315
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agree
Amjadsid
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@ahmet0315, 5 waves always in the direction of main trend: main trend abhi down hay : only a,b,c wave