We've said this many times, we buy falling markets and sell rising markets.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling again we believe that it will not fall under 5k before retesting the support of the descending triangle.
If the support is confirmed as resistance than you should expect to see sub 5k prices.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling again we believe that it will not fall under 5k before retesting the support of the descending triangle.
If the support is confirmed as resistance than you should expect to see sub 5k prices.
Comment:
Right on target.
Right on target.
Comment:
The reaction from the target looked very good but unfortunately the pivot didn't hold.
Comment:
The pitchfork still works but unfortunately it ignored our primary count and targets.
So, we might see sub 5k values after all.