Update from previous idea:
Analysis has been on fire recently, we were hoping to hold the golden pocket breaking through the first target of 4270, we rocketed past that straight upto my resistance box and exactly to the price target mentioned (4430), we hit that to the dollar before seeing rejection back down.
I did think the 4270 level might not actually be so relevant considering how we blasted past it, but i'm glad I left it on my chart as we have found support around this level on the retrace back.
possible cup and handle formation forming here, looking to get back up and test the 4430 level before slowly retracing in a small falling wedge (15min timeframe might be better for this, update shortly on that). looking for the retrace to go to the 4300 level or it won't be valid.
that is best case, aiming for the previous high at 4662, be careful at these levels as you can see the point of control is at 4512, around this level expect some volatility or resistance, hopefully the momentum of cup and handle will allow us to blast through it.
things to look for, try watch for lower high, retrace of falling wedge is relevant and of course hold yesterday's low to keep short term bullish structure.
Analysis has been on fire recently, we were hoping to hold the golden pocket breaking through the first target of 4270, we rocketed past that straight upto my resistance box and exactly to the price target mentioned (4430), we hit that to the dollar before seeing rejection back down.
I did think the 4270 level might not actually be so relevant considering how we blasted past it, but i'm glad I left it on my chart as we have found support around this level on the retrace back.
possible cup and handle formation forming here, looking to get back up and test the 4430 level before slowly retracing in a small falling wedge (15min timeframe might be better for this, update shortly on that). looking for the retrace to go to the 4300 level or it won't be valid.
that is best case, aiming for the previous high at 4662, be careful at these levels as you can see the point of control is at 4512, around this level expect some volatility or resistance, hopefully the momentum of cup and handle will allow us to blast through it.
things to look for, try watch for lower high, retrace of falling wedge is relevant and of course hold yesterday's low to keep short term bullish structure.
