The measured move from the descending triangle has already played out for Jasmy - and it is surpassing that move.
There is a set of fib extensions based upon the bearish breakout from the descending triangle - they are in yellow. They seem to be getting followed by price action. The 4.236 of that sequence is setting around 0.00289. There is also some fib extensions from a fib retracement based upon the peak and trough of the tallest part of the descending triangle that have a 1.618 around .0034.
My buy zone where I will be making my next large purchase based upon this TA is in the range of 0.00289 to 0.0036. I think that this may turn out to be a great value zone - and we may get a huge rally after hitting this area. If it continues down - this will still be a great spot to buy long term IMO, and I will continue to value buy further down as well.
Thank you!
There is a set of fib extensions based upon the bearish breakout from the descending triangle - they are in yellow. They seem to be getting followed by price action. The 4.236 of that sequence is setting around 0.00289. There is also some fib extensions from a fib retracement based upon the peak and trough of the tallest part of the descending triangle that have a 1.618 around .0034.
My buy zone where I will be making my next large purchase based upon this TA is in the range of 0.00289 to 0.0036. I think that this may turn out to be a great value zone - and we may get a huge rally after hitting this area. If it continues down - this will still be a great spot to buy long term IMO, and I will continue to value buy further down as well.
Thank you!
Comment:
We got a 2 day Doji - so perhaps a reversal?
Comment:
Also a 1D Dragonfly Doji
Comment:
We closed with a Dragonfly doji and a Doji on the daily and 2D charts JUST under the descending triangle measured move. Compelling and tempting for sure.
Comment:
It looks like we are forming a nice short term base here - and daily momentum has nice divergence on it - and it looks to be point upward if we can sustain this short term momentum. There are a handful of important closes to pay attention to today - I will post a new idea about this soon.
Trade closed: target reached:
This aged incredibly well!
