In depth description is given within the text bubbles on the chart. Overall the technicals are looking very bullish and are indicating that we are still in a long term bull trend. If you don't hold link I would look to accumulate on any dips. Im expecting some sort of shakeout to occur before going up but it will be just that, a shakeout meaning you will have to be on top of getting your buys in. If you are looking to get in a margin long before sure to follow me as I will post good entries for those too... last one we got in right at 11.50. The best time to get in these margin trades is during the shakeouts when you can catch them.
WARNING: I POST THIS AS "LONG" BUT ON A MID TO LONG TERM TIME FRAME. If you want the best entry you will need to be weary of lower time frames as well. Be sure to follow me and like my ideas as I will give good entries on these shorter time frames and post relevant updates within my publications.
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Heres the same chart posted so you can click and zoom
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Heres a look at mid term time frames. Looks like we will come down to the basis in the daily at 11.75
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It's possible we have a wick down due to what we see in the 1 day time frame then come back up to close the 2day candle with the upper white bollinger acting as support... I dont see it dumping in the 2 day time frame just yet. Although It is a possibility and we cannot rule it out.
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update: looks like more consolidation ahead for 24h but we are getting close to a move. We need to be weary of a shakeout occurring before the move up.
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If we do have a shakeout i'd expect it to come down to somewhere between 11.80 and 11.40 based on the bollinger basis in the 1d and 2d
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I'm thinking we might just be ready to go up again after this next daily candle closes. We will need to watch the 6h, 3h, 90m for entry.
Agreed. I think its going to start going back up very soon.
beastedz
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@linkmarine420,
I'm thinking once we get one more 4 day candle which will also give us a new 8 and 16 day candle we will start to see some real action. Although things can easily change between now and then...