From top to bottom:
-Had a touch of the 50 wma, then a close well above it into the green. Positive sign.
-Next candle opened on top of the .382 BB channel. Positive sign for trend re-entry if you got out and missed the selloff.
-Almost an exact 30% pull back - very common last bull market; 8 of them I think.
-5 RSI close curved back upward and new candle is working on crossing the mid-line.
Notes on the chart for how I'm trading it. Keep in mind the exhausted weekly RSI - see the last idea I published. It's tired and this little rebound might be a bounce before resuming the march to or below the 50 daily and ultimately to the 21 weekly. This isn't the same market as the last bull run - better infrastructure, worse geopolitical tensions, fiat currencies are an even bigger dumpster fire, etc.; but good to be aware of past performance. Might be some upside to the trade but it may not last long or go far if the big chart is taking a break. Or it could go to lambo territory from here. Nobody knows...so pick a system and trade it.
Best of luck.
-Had a touch of the 50 wma, then a close well above it into the green. Positive sign.
-Next candle opened on top of the .382 BB channel. Positive sign for trend re-entry if you got out and missed the selloff.
-Almost an exact 30% pull back - very common last bull market; 8 of them I think.
-5 RSI close curved back upward and new candle is working on crossing the mid-line.
Notes on the chart for how I'm trading it. Keep in mind the exhausted weekly RSI - see the last idea I published. It's tired and this little rebound might be a bounce before resuming the march to or below the 50 daily and ultimately to the 21 weekly. This isn't the same market as the last bull run - better infrastructure, worse geopolitical tensions, fiat currencies are an even bigger dumpster fire, etc.; but good to be aware of past performance. Might be some upside to the trade but it may not last long or go far if the big chart is taking a break. Or it could go to lambo territory from here. Nobody knows...so pick a system and trade it.
Best of luck.