Since my last post when we were creating a W pattern at the low of 17$ I was saying long
So far we have played out close to a T of my expected idea (I drew it in with white squiggles ) LOl
Now ai is it my first key reistance. Also we ended up putting in a cup and handle pattern on smaller time frames with nexkline at 20.60
This key reistance we are at is also the target of that cup and handle so this are is strong resistance along with 25$. I’m not to sure how we play out from here but I do expect a potential rejection or considlation between 20.60-24$ to occure from here. I am looking for a pull ba k to 20.60-21$ from here but if it contiues up through 24 and holds that as support 25$ will be the biggest level.
Just keep a close eye on 23.80-24 Becuase this level is pretty solid reistance. It’s not a bad idea to place some shorts in to hedge the long postion if you are remaining long from 20$ or 17$ which my averge is 17.17.
So far we have played out close to a T of my expected idea (I drew it in with white squiggles ) LOl
Now ai is it my first key reistance. Also we ended up putting in a cup and handle pattern on smaller time frames with nexkline at 20.60
This key reistance we are at is also the target of that cup and handle so this are is strong resistance along with 25$. I’m not to sure how we play out from here but I do expect a potential rejection or considlation between 20.60-24$ to occure from here. I am looking for a pull ba k to 20.60-21$ from here but if it contiues up through 24 and holds that as support 25$ will be the biggest level.
Just keep a close eye on 23.80-24 Becuase this level is pretty solid reistance. It’s not a bad idea to place some shorts in to hedge the long postion if you are remaining long from 20$ or 17$ which my averge is 17.17.
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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.