We can see that since the low of ~5800 we have had a very slight uptrend, which was also apparant in the 2013 charts after a bottom was found.
Observing the slow upward accumulation. We will see if it holds and be prepared with shorts/longs. Again, this is not a trade, it is just trend analysis.
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Observing the slow upward accumulation. We will see if it holds and be prepared with shorts/longs. Again, this is not a trade, it is just trend analysis.
Please view related idea.
Like and follow if you find this informative.
Comment:
It looks like the upward accumulation is holding nicely and following a similar trajectory we saw in the 2015 trend reversal. For this reason I am still bullish long term. But there are some good swing trades in this range! 6400 was a good long entry, and I have a few riding up, expecting rejection at 6800. 6800 could be a good place for a short position, assuming we get rejecte there. This pump and dump range should continue for some time if history repeats itself.
Comment:
The accumulation range is now invalidated. I am now short from 5730.
Comment:
Looks like we got the timing on the reversal right. Took a fun ride down to 3100 for profit after shorting from 5730. I started longing again back into the 4's
