@Konzaales, i noticed my arrow is a little above where i meant it to be. I think buying at 31.50 if it lines up with that bottom trend line i drew, 200 sma and the gap fills all in this area in a month or two. so hope it goes sideways and then a hard test of these levels and ill be buying a huge position
@Konzaales, what u think now i sold at 64 and re bought at 39 and sold at 46.... looking for 48 but might pull trigger at 49 50% and wait too see how we set up for 48 and if he go there the other 50% and if not ill buy 10% increments
@mrvopni, hmm, I can see it might go back to 48 but chances are you might miss it if you wait that long. I would be sharp if it tests 50 phycological cause bulls might want to keep it. Maybe use 33% of that 50% you were going to use at somewhere near 51CAD in case it doesn't drop under 50. It's really hard to time bottom. This way you can average down if it breaks 50CAD without worrying about timing the exact bottom. Also few weeks back resistances have been around 51,40 and 48,90. After breaking 48,90 it can go to 46 level if you look at weekly timeframe. Also it might be that it just keeps climbing above 60 and starts to consolidate before 70, who knows :). I'm interested to hear why you think it will drop short term?