Currently below the red line on the chart, and it has generally been trending on the upper red line. Drawing the gann from the all time low to the all time high, the purple line it bounced off recently was played out perfectly.
Two things I take away from this, large harmonic pattern forming, highlighted in yellow, and also that the price should be higher than what it is right now - at least to the red line. It should be going higher soon within the 2 weeks.
Wait for it to move upwards and confirm the support on the orange line. If price move upwards aggressively, you can take those top lines as TP points ( first at $13, next at $17).
If price gets rejected on the upper red resistance line, just wait for it to break it.
Two things I take away from this, large harmonic pattern forming, highlighted in yellow, and also that the price should be higher than what it is right now - at least to the red line. It should be going higher soon within the 2 weeks.
Wait for it to move upwards and confirm the support on the orange line. If price move upwards aggressively, you can take those top lines as TP points ( first at $13, next at $17).
If price gets rejected on the upper red resistance line, just wait for it to break it.
Comment:
we will go long once it passes 10.2
Comment:
If price does not break 9.87 (break out of head and shoulder), then buy at 8.0 for sure. I am placing large buy orders at 8.0.
If price contests 8.85, and does not break down after 1 day. I would place buys at 8.8 (30%).
And TP at 9.2, then 12.
If price contests 8.85, and does not break down after 1 day. I would place buys at 8.8 (30%).
And TP at 9.2, then 12.
Comment:
Waiting for the green arc to make contact with the vertical green line.
Comment:
About to see a rise to 11.5 or down to 8.4 in the next few days
Comment:
It touched the 8.5 mark. So the correction is done. This will be the last time you will see the price between 9 - 8. Buying around the 8.5 mark will be a good spot. Because that will complete the second bounce on the support and will close higher towards 9.5. At which point you can take 40% profit, and then 30% at 10.1, and then finally the rest 30% at 12