Obviously I am not the first one to suggest this, but this something I whipped up. I believe the Elliot Wave retracements began at the start of this RT shoulder, where we are reaching the B zone. Potential H+S on RSI. MACD has only crossed the green line once, during the pop of the head, and it seems to be still strong. (EDIT: Probably could of drew it a bit better, but you get the picture ;) ) The hammer that was formed today has given me thoughts this could climb to higher levels potentially reaching $260. I am building a short position on this.
Definitely no chart god, just trying to learn. Any thoughts on ways to improve my charting I would greatly appreciate. Thanks.
Definitely no chart god, just trying to learn. Any thoughts on ways to improve my charting I would greatly appreciate. Thanks.