Huge consolidation at all time lows has developed a lovely looking bottom. In fact its irresistible. Watching here to see what happens next. Weekly MA's are flipping, we could see a strong move.
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Entering here would provide poor R&R at 1:2. I will wait to see if we make it above this lower 236. It reacted to the previous high on the way up therefore they should not be ignored.
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Missed the entry at what i had marked at the 236 today. Looked at why, I was expecting more, moved Fibs and now much more apparent that i had them set wron. See below.
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The reaction at the new 236 says it all.
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This also makes sense as we went into unchartered territory beneath previous prices.
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However tempting all this green looks id b expecting a deep pull back here as were as the 50% retrace. Will watch but no entries planned now.