GOLD RETRACING BULL RUN FROM 1680
RESOLVING OVERBOUGHT CONDITIONS
TO ALLOW NEW BUYERS TO COME IN
PROBABLY TO RETEST THE BREAKOUT
AND THEN CONTINUE W THE TREND UP
EXPLANATION OF HOW TO TRADE NOW THAT BITCOIN HAS REACHED CROSSROADS. ANALYSIS SHOWS HOW TO ENTER TRADES WITH WHOMEVER IS GOING TO WIN BUYERS OR SELLERS.
More upside to come for USDCAD as USD strengthening across the board on positive US Data and expectations of FED tapering sooner than expected. USDCAD is great candidate for a nice USD bounce because of how oversold it is and price being supported by a multi year demand zone.
REACHED 20MIN LIMIT ON THE VIDEO AND GOT CUT OFF - BUT THE MAIN POINTS ARE THERE. WE ARE FINISHING A MAJOR WAVE CORRECTION IN A TRIANGLE AND IT NEEDS TO DO ANOTHER THRUST DOWN TO COMPLETE THE STRUCTURE BEFORE WE SEE A BOTTOM AND A RETURN OF BULLISH MOMENTUM
Its obvious that we have a large H&S pattern developing, if the neckline gets taken out the target is absurd ie value of Doge will be 0. Highly doubt that will happen but selling if further to fraction of the value it is today is possible however. 2 scenarios are we bounce off of the trendline and resume bullish run or we break it and then we are looking for sells in DOGE.
We have bounced off of trinagle support (and closed our short position) and now broke out from the down channel to probably retest the high of the triangle
However, this coming to an apex of the triangle and you should be avoiding trading near the apex wait for the triangle breakout up or down to buy or sell momentum out of it !
Gameplan for short term traders, explaining how to manage our current trade, when to take profits and what to expect next. Also a gameplan for long term HODLers shown how to do it with minimum risk using TA.
