So, what to do from here? A couple observations:
On the daily time frame:
1. is looking good.
2. is also looking good.
In General as we zoom in per my chart.
1. We have busted out of this channel and made an even higher high, which is very good.
2. We are hitting one of these that has been strong resistance in the past.
and entry move to the upside.
If you are looking to enter, This 440-450 area should provide a lot of support for a move to the upside. Bear in mind, this is assuming that we break this to the upside as well. If we move sideways without only minor pullbacks to this 440 area this should support a case for a further move to the upside. I will be watching this 440 area carefully to see what it does here. If we break this 440 area to the downside with confirmation, a further move down could be in the cards, but hard to say if it will rocket down like it did last time from here. If it does move up, expect it to go to the 550-575 area. I will be monitoring it closely.
Calling the move up:
Calling the bottom:
Luckily, we are profitable. So you can bank on it going higher and hodl. Move your stop up. Take some or all your profit. Lot of options, which is great. That's what we want. Personally, I will be moving my stop up and keeping it very tight just below 509. The reasoning is I have been in this for a while, I can take a nice profit and I can reset my martingale positions and re-enter the market at another time.
Best of luck,
There will be plenty of opportunities next week, I will post them as I see them. Enjoy the weekend everyone.