Money Man has been proven too conservative again, but he is happy with his glass half-full. What can you do? It is difficult for a leopard to change his spots that he got over years of growing.
Be careful as to the reading of the numbers of targets on the chart as it is squashed – count them rather than looking at the closest text. On the analysis the Green Target 1, and then especially the lower half of it is historical resistance, that he conservatively could not leave off the chart. The red targets are also confluence from gathered from history. Again, he did not go as far as grabbing the collapse lows of early and mid-March but added them with dotted lines for those with different spots. And again, he is waiting for price to come to him.
Conclusion: Again with spots and half-full glasses: He is hopeful for consolidation here through formation of a pattern, just like before this dump. It is a bit early to start drawing lines now though. Very Important to me: Please leave a like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Be careful as to the reading of the numbers of targets on the chart as it is squashed – count them rather than looking at the closest text. On the analysis the Green Target 1, and then especially the lower half of it is historical resistance, that he conservatively could not leave off the chart. The red targets are also confluence from gathered from history. Again, he did not go as far as grabbing the collapse lows of early and mid-March but added them with dotted lines for those with different spots. And again, he is waiting for price to come to him.
Conclusion: Again with spots and half-full glasses: He is hopeful for consolidation here through formation of a pattern, just like before this dump. It is a bit early to start drawing lines now though. Very Important to me: Please leave a like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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BTW Green Targets 3 and 4 are way out: possible but not probable without much action before that.
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