I'm not being completely facetious, but we're getting ready to watch a cup and handle, but only in reverse. We have the handle to the left, leading into the very nice, round bottomed, cup forming. The other indincators, the all point to a softening in price over the 4h. The RSI is capped at 56, and we observe a bearish cross on the Stoch RSI; recent history shows this bear cross is is worth 4-9% decline. The Stoch is still slightly bully, but I think that's going to roll over in a couple of candles and tap out at 20 in a few days.
The Golden Cross is coming on the daily. But that doesn't mean were are straight to the moon. The 50 and 20 may braid once or twice to establish the technical floor with the MAs. I expect the Stoch on the Daily to take 6 days to decline from 40 to 20 and stay there perhaps another 6 days. The Stoch RSI may take a while to pop back up, were about 4 days into a 8-19 day trek, tacking around 20.
I am Macro bull, I think we're going to have a golden cross, then have a good 18 months, but theres going to be a lot of ups and downs. Plenty of places for people to make and loose money. So be careful. While this is not advice I'm going short at 165, take profit at 158. If this doesn't trigger I don't lose any money, and if I get a solid movement into the money I'll delete the take profit and put in a stop loss that's above the current price to let is ride down, moving my take profit down to 150. Plans subject to change.
The Golden Cross is coming on the daily. But that doesn't mean were are straight to the moon. The 50 and 20 may braid once or twice to establish the technical floor with the MAs. I expect the Stoch on the Daily to take 6 days to decline from 40 to 20 and stay there perhaps another 6 days. The Stoch RSI may take a while to pop back up, were about 4 days into a 8-19 day trek, tacking around 20.
I am Macro bull, I think we're going to have a golden cross, then have a good 18 months, but theres going to be a lot of ups and downs. Plenty of places for people to make and loose money. So be careful. While this is not advice I'm going short at 165, take profit at 158. If this doesn't trigger I don't lose any money, and if I get a solid movement into the money I'll delete the take profit and put in a stop loss that's above the current price to let is ride down, moving my take profit down to 150. Plans subject to change.