ASCENDING CHANNEL - BULLISH PENNANT (buy the dip) 13.8k FIB -
Good morning everyone -Yurlo
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Prior resistance will likely become the new support, now there's liquidity below 12k so a wick below is likely, however if we bounce off 12.1k I wouldn't be surprised.
(0.5 fibonacci level - 11428) we ranged above this level before breaking 12.1k - which is good for the structural integrity to move forward to 0.618 fibonacci level - 13372)
LATEST CME GAP (9600) -
Be clear: these do not need to fill right away, the 11.8k gap didn't fill for the length of the entire bear market. (2 years)
Next bullish targets:
12.8k
13.1k
13.3k
13.8k.
(new range - higher high) - 12495 & higher will crate the new high and allow a new uptrend to occur)
(ABC) - (DEF) - (GHI)
I'll post updates throughout the day as price action goes along, remember in a bull market if you simply buy the dips, sell tips, rinse repeat you will make a lot of $$$.
Happy Tuesday.
Do me a favour and hit that like button if you appreciate the daily charts 👍 👍 👍 👍 👍 👍
Prior resistance will likely become the new support, now there's liquidity below 12k so a wick below is likely, however if we bounce off 12.1k I wouldn't be surprised.
(0.5 fibonacci level - 11428) we ranged above this level before breaking 12.1k - which is good for the structural integrity to move forward to 0.618 fibonacci level - 13372)
LATEST CME GAP (9600) -
Be clear: these do not need to fill right away, the 11.8k gap didn't fill for the length of the entire bear market. (2 years)
Next bullish targets:
12.8k
13.1k
13.3k
13.8k.
(new range - higher high) - 12495 & higher will crate the new high and allow a new uptrend to occur)
(ABC) - (DEF) - (GHI)
I'll post updates throughout the day as price action goes along, remember in a bull market if you simply buy the dips, sell tips, rinse repeat you will make a lot of $$$.
Happy Tuesday.
Trade active:
Looks like we've found some support around the 12196 level (currently at 12272)
Signs a local bottom could be in, either we have more of a retest to do or we're testing the top of the range again (this will lead to either a double top & retest of 12.3k again or breakout)
Signs a local bottom could be in, either we have more of a retest to do or we're testing the top of the range again (this will lead to either a double top & retest of 12.3k again or breakout)
Trade active:
Originally I had buys around 11995, but the momentum from the longs is heavy. I'm thinking 12100 area we will see a bounce if we don't here.
Trade active:
bounced almost perfectly off the trend-line. Patience is rewarded, while the impatient ones are the ones getting liquidated - let the market come to you, make your move then have strong hands. Next target after 12495 is 12795 zone, looking to see 13.1k hit (0.618 fib level 13372) followed after and then 13.8k.
bounced almost perfectly off the trend-line. Patience is rewarded, while the impatient ones are the ones getting liquidated - let the market come to you, make your move then have strong hands. Next target after 12495 is 12795 zone, looking to see 13.1k hit (0.618 fib level 13372) followed after and then 13.8k.
Trade active:
Bounced off trend-line & have bounced off the 20 DAY MA.
Bounced off trend-line & have bounced off the 20 DAY MA.