Just wanted to update the chart a bit. This is what I see.
So the break out is near. I continue to hold my longs and accumulating more when the price drops.
The volume drop on the sell side suggest a reversal. I think it will be to the upside. Anyway, I am paying close attention to the lowest demand zone. (fingers crossed we don't breach it)
So the break out is near. I continue to hold my longs and accumulating more when the price drops.
The volume drop on the sell side suggest a reversal. I think it will be to the upside. Anyway, I am paying close attention to the lowest demand zone. (fingers crossed we don't breach it)
Comment:
I added to my long positions again. I expect a bounce tomorrow. Major divergence on the 4H RSI and low sell volume.
In any case, nothing is for certain, so if we do end up cracking below 2.06 support I'll consider closing my position.
In any case, nothing is for certain, so if we do end up cracking below 2.06 support I'll consider closing my position.
Comment:
I am out of my position, unless I see a confirmation at least.
As you can see we retraced to the demand zone. I am not a fan of this price action, looks like every bounce is faded right the way.
I looked at the order book of the broker I am with and there are practically no short positions at these levels. Everyone is loaded up on longs. So let's wait and see what happens.