Last week our target at $1440 had not been achieved, the price went down and made a retracement at the end of the week. Overall it is not a Sell yet, we are still within Buyers area ($13.90 to $14.24). The immediate Decision Point (DP) is at $14.24 where if it breaks, then we anticipated that it will go to our $14.40 level (which we will sell). If it doesn't break, then it will range within the buyer area.
My view remains the same as last week, we look for the opportunity to short and feel free to scalp it while it is ranging. If you have a different view, let's discuss it at the comment area below.
Sounds like my view as well. 14.24 is also where I'm looking for better direction... My opinion: There's a good chance this week will be a ranging chop again, better for scalps... but if early week we close below 13.99, that points to further drop, but 13.21-13.27 pocket would be good support at this moment. That could change if we go up to sell zone first for a better entry.
@farmerisland, I'm liking the price action so far tonight continued. Hopefully follow-through tomorrow. If it fails follow-through tonight, 14.02 -- 14.235 could be range. I do have an open sell at 14.40, but the overall trend could take it to eventually to 14.88 by early April; we'll see later...
machintose
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@farmerisland, my new range is $14.24 -- $14.40
On H4, the current candle (still 2 hours 40 mins left prior to candle closing) looks like the bullish momentum is slowing down, if it closes below $14.20; then the price may not reach $14.40
Are you using fibo to get $14.88 ?
farmerisland
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@machintose, Yes, I am long from 14.05, but then looking to sell at 14.40 resist. I agree with your range. The weekly range is wider though, and the longer we trade above 14.24, the greater strength in the channel. I view 14.90 as weekly containment within a channel, so if the larger bull trend continues above 14.40 closed strength, I will aim for 14.88.