Are the bulls back in control? Megaphone looking more like double bottom. Next windup is critical for bulls.
Still unclear if head and shoulders is invalidated yet. Need to clear threat of megaphone before can call for a second pattern failure.
If a second head and shoulder failure is true, would show very convincing weakness of bears long-term
Short term remains to be seen
We're talking about the slowest oil tanker of the lot here. Old man schiffy gold doesn't move quick. But on the macro we've painted a cup and handle continuation. The price action here represents the handle.
Triple bottom possible support. Else continue down the channel til we break (or don't)
Starting to keep an eye on this for...
macro lower high on monthly, and now this rounded top resiting sloppily on support, poised to break
Doens't look good short term
Med-long term, gold has nearly completed its 10 year cup, and 1 year handle, ready to soar higher once the short term timeframe (weekly) confirms. Silver to eventually be dragged up by gold in the next 12 months.
market feels buoyant
yes it has been bull for 6 weeks now and starting to become due for some bear
but feels like it has one push left in it
also we are entering macro parabolic phase on $TOTAL2 which is very forgiving to bulls
I usually trade patterns and long dips, not consolidations this high up, but the buoyancy of the daily chart on ETH, plus the...
entering the mania phase of the cycle
biggest mistake is not focusing 100% on crypto for the next 3-6 months
"try to catch two rabbits you catch none"
Made this mistake in 2017. Not again.
no distractions ✓
risk management ✓
tax optimized ✓
here's to a life changing 6 months