I'm seeing some bullish signs.
I've posted a long-term trend prediction with a bullish divergence on the 2 day Stochastic Oscillator.
Now we are seeing another bullish divergence on the 12 hour chart too.
A bullish divergence within a bullish divergence!
I'm also seeing an inverted head and shoulder pattern with volume confirmation.
A head and shoulder pattern on the volume is a strong confirmation signal.
My initial target is $8300.
Now is not a bad time to enter.
But I prefer to wait for the right shoulder pattern to finish.
Who's with me on this trade?
I've posted a long-term trend prediction with a bullish divergence on the 2 day Stochastic Oscillator.
Now we are seeing another bullish divergence on the 12 hour chart too.
A bullish divergence within a bullish divergence!
I'm also seeing an inverted head and shoulder pattern with volume confirmation.
A head and shoulder pattern on the volume is a strong confirmation signal.
My initial target is $8300.
Now is not a bad time to enter.
But I prefer to wait for the right shoulder pattern to finish.
Who's with me on this trade?
Trade active:
Trade active:
We saw a double bottom at point 5. Price didn't immediately go up but the support line in the stochastic oscillator was strong enough to push the price up. Now we are approaching TP1 and we should be ready to take profit. I will be cashing out half of my investment and enter again when I see more bullish signals. Learn to manage your risks.
TP1 is where the May bear run was held back. It was breached with a strong volume in the next trial. It is also a 0.618 Fibonacci retracement level of point 2 and point 5. We would have reached TP2 by now if price didn't fall for a double bottom. Still, we will reach TP2, just that it will take twice as long.
TP1 is where the May bear run was held back. It was breached with a strong volume in the next trial. It is also a 0.618 Fibonacci retracement level of point 2 and point 5. We would have reached TP2 by now if price didn't fall for a double bottom. Still, we will reach TP2, just that it will take twice as long.
Trade closed: target reached