Friday surprised me. For anyone still bearish
long-term, I think there'd be better opportunities. For now, momentum is on the bulls side. To me - exclamation mark would've been my A1 long entry had I been watching. Even now, the setup is too nice to ignore. For anyone setting up to scalp a dip to the short side, I wouldn't expect much action below the 127% ($274) fib. If you're long, I think consolidation around that point (if any) would be an A1 opportunity to double down before really starting to test the highs. I think 85% of the time I see this pattern where 55(low) MA is below 180WMA, where price dips down to point of cross-over (while 20 & 45 EMA
both still above 180 WMA
) - up-side swings reach 200% fib. 10% reach 223%, and 5% reach 314% (typically 314% is only seen w/ volatile equities). Blue rectangle
= long A1 target, red line = short entry. Red rectangle
= short A1 target, green line = long entry. If you notice black RSI
ABOVE the actual money flow
, you'll notice the dip / down-side that follows. That's been the case lately, but not now.