CFX for what ever reason is one asset that in when the market reversed in December bounced EXTREMELY hard producing a 2000% pump. That pump has now retrace by 50% and the market as a whole is show bullish signals.
Assets that rally the hardest in a bear market tend to perform the best in the bull market. The why is quite simple. What produced the 2000% pump? Participation by current interested parties.
This is a weekly chart and we can see the current macro swing has retraced by 50%, wave trend oscillator has crossed over deep in the over sold territory, and money flow is rising. Confirmation of a push up will be a brake of the current down trend.
For targets there is an attached second chart for local swing trades. This chart is more to identify the environment created by past price action. The .618 of the main down trend has already been claimed by the big pump but is now a nice 170% above.
IF the market is pushing higher taking the liquidity above the next unbroken high is likely making the .786 retrace level a fair target. Max projectable target would be a STANDARD measured move for yet another 2000% push back to the all time high. A more reasonable target would be a 1.5 expansion of our current down trend that is coming out just below the all time high around 900% higher.
Trade Well.....
I will have a video explanation of this chart and another for INJ out later today. Seek and ye shall find.....
Assets that rally the hardest in a bear market tend to perform the best in the bull market. The why is quite simple. What produced the 2000% pump? Participation by current interested parties.
This is a weekly chart and we can see the current macro swing has retraced by 50%, wave trend oscillator has crossed over deep in the over sold territory, and money flow is rising. Confirmation of a push up will be a brake of the current down trend.
For targets there is an attached second chart for local swing trades. This chart is more to identify the environment created by past price action. The .618 of the main down trend has already been claimed by the big pump but is now a nice 170% above.
IF the market is pushing higher taking the liquidity above the next unbroken high is likely making the .786 retrace level a fair target. Max projectable target would be a STANDARD measured move for yet another 2000% push back to the all time high. A more reasonable target would be a 1.5 expansion of our current down trend that is coming out just below the all time high around 900% higher.
Trade Well.....
I will have a video explanation of this chart and another for INJ out later today. Seek and ye shall find.....
Comment:
likely still valid and either putting in a sigificant top or headed to the higher targets price action over the next weeks or so should give a good indicatio of macro rejection or continuation.
