Is STEINHOFF trying to recover? Is this the best price we will see in a long time?
Testing some price action ideas. Testing.
Wait for the new monthly pivot, watch what price does on lower time frames, be cautious.
Price can do anything.
Beware the anchor.
EOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there.
Not financial advice, manage risk! Take care.
Looking to enter on the 61% or 78% retracement areas. We might have an opportunity to grab some last coins and complete this expected inverse head and shoulders and carry a very nice position into the potential bull run.
Possible inverse head and shoulders forming creating a reversal since the 1.18 downtrend. Could go back to 1.18 then down creating last shoulder on an even bigger inverse H&S on the daily.
Still learning this game. Lets see.