Would be good if it breaks into green ellipse, but even if it keeps testing the bottom, things are looking up. If it falls into the red, I may add to my position.
** This is all very experimental at the moment. I feel like the ellipses don’t have as much predictive power about direction, but seem to do a better job than trend lines at defining boundaries. Still learning, but it is pretty delightful to see candle wicks exactly bounce off an ellipse you drew over a day ago. Doesn’t always happen, and I still discover that I drew the wrong ellipse or some ellipses I drew need adjustment with new price action, but so far it has been a fun activity.
** This is all very experimental at the moment. I feel like the ellipses don’t have as much predictive power about direction, but seem to do a better job than trend lines at defining boundaries. Still learning, but it is pretty delightful to see candle wicks exactly bounce off an ellipse you drew over a day ago. Doesn’t always happen, and I still discover that I drew the wrong ellipse or some ellipses I drew need adjustment with new price action, but so far it has been a fun activity.