Done a comparison with rally from February $6,000 low. Sideways movement has knocked out a number of my Bollinger trend lines. I've included a green trend line from the 4 hour chart to help confirm a new upward leg as the 2hr one resulted in sideways movement.
Comment:
Just adding note from my last post for the week ahead. Have removed price channel. New low of $8,311. New retrace 50% = $8,680. Price for now couldn't hold above 20 MA. Anybody for H & S or more sideways movement. Media concerns perhaps about daily moving average crossover if you follow 50, 100, 200 MA's.... What's going to be the creature's strategy? Change of habit (or not)?
Comment:
Just adding note from my last post for the week ahead. Have removed price channel. New low of $8,311. New retrace 50% = $8,680. Price for now couldn't hold above 20 MA. Anybody for H & S or more sideways movement. Media concerns perhaps about daily moving average crossover if you follow 50, 100, 200 MA's.... What's going to be the creature's strategy? Change of habit (or not)?