Good morning, traders. Price hit our target from yesterday. The H1 chart is what I posted to our premium Discord community prior to price popping up this morning. At this time, the H1 RSI and Stoch RSI still have room to continue higher. If price closes above the ascending channel resistance in the next two hours, then we should be looking for it to target the ~$10800 level which is at the EQ of the H4 supply. That will then take price above the descending channel/broadening wedge resistance which should indicate a target of the R2 pivot at $12500. Obviously price won't spike up to that point, so traders should expect pullbacks along the way.
Zooming out to the D1 chart, traders will notice the large ascending channel whose EQ price just popped through. Price is now on the topside of that channel once again, which is bullish. Today's large green candle, if it closes as such, should confirm yesterday's possible reversal doji. The H4 is starting to look more bullish with this recent move up. We can see expanding volume and candle spread from the August 21st swing low. A close above the pivot would be considered bullish. H4 RSI is nearing its descending resistance with a close above it likely signalling the larger move up. Stoch RSI is overbought but has room to continue moving up for now.
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Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
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Zooming out to the D1 chart, traders will notice the large ascending channel whose EQ price just popped through. Price is now on the topside of that channel once again, which is bullish. Today's large green candle, if it closes as such, should confirm yesterday's possible reversal doji. The H4 is starting to look more bullish with this recent move up. We can see expanding volume and candle spread from the August 21st swing low. A close above the pivot would be considered bullish. H4 RSI is nearing its descending resistance with a close above it likely signalling the larger move up. Stoch RSI is overbought but has room to continue moving up for now.
_____________________________________________________________
Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.