Based on a trend line from 2017 that converges with the November 2018 resistance, it creates a new triangle formation. This chart projects a lower low of 2700, and we have until June 2019 to break out of this formation. I'm not saying price can't go lower than this, but this is just to provide some additional perspective. (only works in the non-logarithmic scale)
Trade active:
Candles are starting to droop making me feel even more bearish. We are reaching a bearish cross on the Weekly Stoch RSI which could result in a big push to the downside.
Trade closed: stop reached:
Setup just got invalidated. Not trying to short anymore.
Still trying to buy in the 4000's and possibly upper 3000's.
Still trying to buy in the 4000's and possibly upper 3000's.
Comment:
Good thing I got stopped out, but didn't enter a long until above 6k.
