Two options: Bullish break out from symmetric triangle for a continued short term rally. More likely, a break down of symmetric triangle off TD 8 or 9 daily count, with a head and shoulders pattern and further breakdown to red buy zone.
Note on this next buy zone: I've become very doubtful this next buy zone will be our bottom.
Note on this next buy zone: I've become very doubtful this next buy zone will be our bottom.
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I'm still targeting green line as target 1 and possibly blue line as target 2.
Green trend line should coincide with Daily TD 9 and 128D MA, making it very strong resistance. Target price just below $7300.
Green trend line should coincide with Daily TD 9 and 128D MA, making it very strong resistance. Target price just below $7300.
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4hr chart may have a short term sell off. Watching for something like below.
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Broke down last night, but I think a bounce here at support and MA with oversold RSI is likely. I may have to reevaluate my targets if this plays out this way.
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I'm inclined to think a break out is coming with golden cross of 50 and 200 on 4hr; however, be extra cautious with the TD9 sell candle on the daily chart. Still going to hold my target of $7300, but a breakout may bring it higher to $7500 area. In that area we should hit overbought daily RSI and TD9 sell candle, so should be a good exit.
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Right on track.
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A little early, but perfect hit. Now to wait to see if we can push higher or if that is it.
交易结束：到达目标
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Watching for a decisive close over resistance or breakaway, but the chance of a break out here is looking reasonable/likely.
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Break out was not decisive and failed to close above resistance. Daily RSI is trending down from over bought on a TD2 candle. If the 2 candle can not decisively close above the 1 candle, then I will expect a significant pull back. If $7K is broken, I will then start targeting lower lows, likely in the $4.5k area.
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Possibly something to watch for.
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Breaking out.
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Channel broke
