THIS IS NOT A TRADING GUIDE. IF YOU TRADE BASED ON THIS CHART, GOOD LUCK!! I TAKE NO RESPONSIBILITY!!! THE OUTCOME IS ENTIRELY ON YOU!!!
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wrote "pennant" instead of "wedge" in description targets....
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15min Chart
Horizontal resistance here, but the next candle is already forming outside of the wedge, plus MACD crossing up giving a buy signal.
Trade active
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15min Chart
Mystery line is resistance. However, I don't think it is/was a sell. 2520-2550 should be support, although 2520 might be tricky due to price bouncing quite a bit there earlier. Buying inside the green rectangle, but not adding to my long.
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Also, setting a stop at break even now.
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Nevermind. Will wait for higher price before moving stop higher.
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1hour Chart
1st target reached. Leaving rest of the position open to keep profits coming. Now I'm setting my stop in profit zone. Will close after a convincing top, or if the stop is reached.
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1hour Chart
Buying in that green box if we revisit. But who knows, this might break resistance before everyone expects it.
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Also note last chart. Adjusted trend resistance so to include every wick from before the drop to the wedge. That would've given me a more accurate timing to sell at TP1.
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lol
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15min Chart
Bear divergence. But we know divergence can take a while to take effect. Maybe one more top, maybe this was the top. Temporarily speaking. I would be surprised if we don't see a new ATH in the following 1-2 weeks.
Trade closed: target reached
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Updating as "Close" because both targets were reached. However in reality I still have some of my position open. Took profit on the first target, but I think there's a high chance of seeing new ATH in August.
That looked correct, so I sold!! :D