We've said this many times, we buy falling markets and sell rising markets.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling again we believe that it will not fall under 5k before retesting the support of the descending triangle.
If the support is confirmed as resistance than you should expect to see sub 5k prices.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling again we believe that it will not fall under 5k before retesting the support of the descending triangle.
If the support is confirmed as resistance than you should expect to see sub 5k prices.
Note
So, we might see sub 5k values after all.
Note
Right on target.
Note
The reaction from the target looked very good but unfortunately the pivot didn't hold.Note
The pitchfork still works but unfortunately it ignored our primary count and targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.