According to this levels and the bearish bias derived from yearly ranges (check my other posts), i can see confluence in this three possible targets for a bearish retest, which I expect form as the December High.
Yearly ranges: 2018 (black) and 2019 (blue)
2018 shown in black. The mid range showed pivot like behavior, pushing price away explosively until a last bearish retest lead to the final dump to 3k.
May of 2019 close above this level flipped it into support and helped June reach the high of the year.
2019's Mid range is not showing such explosiveness, which is...
I like the confluence between the monthly support, weekly high, fib retracement and daily range high.
I'm expecting it to serve as support for the hidden bullish div to do its job.
I could see wicks below Q4 Open, so I still have to work my SL out or wait for the right moment. Maybe even a day or two down there to cook some shorts.
I've been trading for 3...