Hey guys ...
We cannot ignore this price action. The chart has developed a huge gap and has moved very unnaturally. WSB ..
The chart is not very clear to me. Can you still remember 7.50? That was an intermediate target of mine, which was overrun in the gap up. Today exactly this level served as support after we filled the gap at 8.37 and fell below it.
There is a problem for me. I'm not a fan of huge gaps because they always act like a magnet. And what do we have in the chart? A huge gap (around 6.87). There is still a risk that the market will want to fill this gap. Today we saw the first down movement. We have two options:
1. We fill the gap and build strength again from there. That would mean we'll see prices again at 6.87.
2. We gain strength from the 8 dollar support and reach the targets above. The further we get away from the gap, the better. So the situation remains interesting. I'll keep you up to date.
We cannot ignore this price action. The chart has developed a huge gap and has moved very unnaturally. WSB ..
The chart is not very clear to me. Can you still remember 7.50? That was an intermediate target of mine, which was overrun in the gap up. Today exactly this level served as support after we filled the gap at 8.37 and fell below it.
There is a problem for me. I'm not a fan of huge gaps because they always act like a magnet. And what do we have in the chart? A huge gap (around 6.87). There is still a risk that the market will want to fill this gap. Today we saw the first down movement. We have two options:
1. We fill the gap and build strength again from there. That would mean we'll see prices again at 6.87.
2. We gain strength from the 8 dollar support and reach the targets above. The further we get away from the gap, the better. So the situation remains interesting. I'll keep you up to date.
