I am happy to see the price nicely following the arrow I drew on the 17th. The slow grind upwards is exactly what we want to see. That allows the pressure to build while resistance is being eaten away.
I expect that to give us the momentum needed to break through $8,400 and the 0.382 FIB level. That will likely be a key level for a lot of traders who are still waiting on the sidelines and it should also cause a lot of bears to give up.
On the other hand I do expect to see heavy resistance at $8,400. If looking to enter a position then try to enter under $8,300. If you enter long above that price then you are buying resistance.
If we break through $8,400 then the next major area of resistance is $9,000. I have still have my first profit target set at $9,950 and stop lost at $7,714
Thank you to everyone who likes this post and keep in mind that following is free!
I expect that to give us the momentum needed to break through $8,400 and the 0.382 FIB level. That will likely be a key level for a lot of traders who are still waiting on the sidelines and it should also cause a lot of bears to give up.
On the other hand I do expect to see heavy resistance at $8,400. If looking to enter a position then try to enter under $8,300. If you enter long above that price then you are buying resistance.
If we break through $8,400 then the next major area of resistance is $9,000. I have still have my first profit target set at $9,950 and stop lost at $7,714
Thank you to everyone who likes this post and keep in mind that following is free!
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
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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.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
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.