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This is about to go to the moon!
Bounce off market structure on higher time frame.
Looking for it to bounce off the cloud and go higher. Set a Buy Limit.
Looking to put a Sell Limit on UJ and take it lower
Short sell off the double top
If it breaks through the resistance it will fall until about .62 level
It bounced off of .618 fibs level, it also did not break out of the cloud.
Only sell if closes below the resistance, if it does not go below the resistance do not take the trade
I am placing a sell stop based on 4 confirmations of a sell. It is currently overbought, divergence on the RSI, it is approaching a major resistance, it is also currently in an overall down trend.
Due to the triple top, divergence ,and the break through of the channel I believe we will see a retrace to the .618 on the Fibs
I am placing a buy based on the bounce off the channel line
Due to the current trend being a down trend and a pullback happening I believe we will see another breakout to the down side