Had to add this to my watch after noticing so many traders following it and looking for an entry. I am targeting this green zone for a reversal. Although the sell off has been quite harsh its really not surprising given the parabolic move. after the break from the longer term base. Price often falls back to the break out point due to the vacuum created when shorts are finished covering and longs stop buying once they realize they can get a better price. Patient traders know the best entry is back at the break point if they missed the initial run up. I'm hoping for one last flush into 20.50, however I would not be surprised to see some front running with early entries and a gap tomorrow. Let's see what happens.
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No flush traders jumped in early and we get the gap. Will have to look for a pull back entry now as its already running. I'll wait for the open and hope for a drop into the gap.
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Holding above the gap and consolidating. Above 30 can be a trigger. If price drops below the box I'm out.
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Put on a small position as it broke 30. Resistance held though and fell back. Still holding. as it did not break the bottom of the box. Will look to add on a reclaim of 30 or stop out on weakness below the box tomorrow morning.
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Stopped
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Above 30 pre market.
