This is one of my favorite strategies to trade when it presents itself.. as you can see we have people buying the dip and people selling the bounce, lot of indecision. In times like these I like to see what the big players are doing and like zooming out.. Overall we are in a buyers market but miniature sellers at 9600 where it couldn't go past it. So this money spot that has formed is perfect for figuring out where the next trend is going. If we break below it will be very easy to see a target of 7100 and if we go up we will be restesting 9500-9600 and should have enough force to break it and give that 11.6-12K we are all looking for, time will tell and I will continue to wait until this unfolds but a nice move will be coming.
Comment:
stopped out at 8515.. bulls starting to gain some traction, its looking good. im going to stay out unless until further confirmation but I like it.
Comment:
Short got triggered at 8200.. stop at 8650.
Target 1 7800
target 2 7400
target 3 7-7100
Target 1 7800
target 2 7400
target 3 7-7100
Comment:
target 1 hit
Comment:
target 2 hit
Comment:
target 3 closed at 7180.. seeing a divergence on 4 hr.. better be safe than sorry and running away with profits!