A break to the upside will require people that are short to buyback their position and will trigger people to buy into it, same the other way.
I'm in a buy, but the stock could easily break down. wait for price action to confirm a direction.
The strategy described on the chart is simple. First i'll take a long position to target the last high. From that point i'll take a short position which is exactly the same size as my long position. This means that from that point it doesn't matter what the market will do next, because I have my profit locked between these 2 points. I would preferably see price to...
I'll be waiting for this channel to finish it's 5th wave. nice buy opportunity if price gets to blue line under it.
Watch my previous analysis as I called the retracement it's making now.