I adjusted the triangle a bit compared to my last post but we have a inverse head and shoulders on the 4h time frame. It is currently breaking the neck line. Also the 4h RSI is crossing the ema. Hold on to your britches
It may be next week when we break to the upside.
Its not a confirmed triangle yet but we will know tomorrow. If we break to the upside we will see the 90's and if for some reason we break to the downside, we will see the 30's again. The next two trading days will be interesting.
This 3 day close was a massive close, not only has it made a new high on a 3 day "closure" we are getting close to a golden cross with the EMAs. Hold on tight! Its going to be a wild ride.
Spy has a 15m golden cross looming. We could sell right into it an bounce or just fly from here.
For now we will probably bounce around in this triangle.
I really think we will break over the 14.50 mark when we get close to having a golden cross with the 3 day green and purple EMA's. This golden cross will create a launch pad for price action and the measured move for the triangle points us to the top of the wick of the small "squeeze" that was in January. This won't be the stopping point either, I expect...
We are forming a massive ascending triangle on the 3 day chart.