Sub $30 looking to get long targeting +$75.
A. range recoil ... that looking to short into recoil to 50% fib
Range set 2007-2009 $2.70 - $51
End of 2014 broke north on range now in recoil phase with pull back projected sub $30
B. range recoil ... looking for rally to sell into
Range set Aug - Sep 2015 $49 - $62.20
Start of 2016 broke south, recoiled all the way to $61.20 (missed that short trade) and now looking to move sub $42... and i think to 2.618 fib around $29. Hoping we get a decent rally on the daily to give me that opportunity.
C. 4 year broke at start of 2016 (set up from Oct 2012) just before Aug- Sep'15 range broke. Projection from that break targets $29.
The move below 42 signified completion of bull range recoil trade and dropped price action onto support at 36.50 from Jul'15s low and bull trend line