Following on my idea posted at the beginning of this year. With the break of the $5 support, this potential reversal to the upside is looking weak. I expect strong buying near $3.50, after which we'll see a test of the $5 level as resistance. Following that, it'll be decision time for this trend to continue or fail miserably. Watch very closely for failures at...
this could still co another 50% lower, but we're in the sweet spots
Is it too early to start preparing for the next widescale equity devaluation? Of course not! Such market conditions are, after all, how legends such as George Soros have earned their stripes in the financial world. With prices at their current, stagnant highs, it takes a very wide perspective to see the possible outcomes, so we take a look at the monthly chart...
Thanks to brexit, it's time to start looking at short positions
Distribution following a rejected high, untested support below.
Short from weekly support lost. Red line = stop, yellow = trail stop, green = scale out/tp.
We're reaching the extreme of the move down from previous swing highs. Price should smack between 1243 and 1261
We're reaching the extreme of the move down from previous swing highs. Price should smack between 1243 and 1261
We're reaching the extreme of the move down from previous swing highs. Price should smack between 1243 and 1261