Update from previous post:
what a day it has been for etc, etc and the whole market in general, anyone who was in a long has been paid today. I got in a long position late last night at my key support line (3838) as I noticed we had tested as support and I thought it looked pretty strong (I was right), we quickly made a break to my new resistance levels which are the only historical data we have at these levels and as you can see it has been tested perfectly.
using a fib retrace is the best way to look for levels to enter the next long, also helps us see levels we could find support if we drop further, the .236 has been good support so far but as you can see I have drawn a potential pattern here.
head and shoulders could be playing out here, would make sense just on a shorter time frame to give a reset to the indicators just to make way for the next move up, either the price target marked (4176) or the -0.27 on the fib at 4215, time will tell overall I am extremely bullish and the hardest part about times like these is trying to be patient and wait for amazing entries!!
things to note:
- BE PATIENT NO FOMO
- look for break of 4137 level and test as support to signify another move up
- be careful of head and shoulders playing out and look for retest of 0.382/0.5 level
- look for support at 0.236 in short term but more times we test more likely break lower, again WATCH HEAD AND SHOULDERS
what a day it has been for etc, etc and the whole market in general, anyone who was in a long has been paid today. I got in a long position late last night at my key support line (3838) as I noticed we had tested as support and I thought it looked pretty strong (I was right), we quickly made a break to my new resistance levels which are the only historical data we have at these levels and as you can see it has been tested perfectly.
using a fib retrace is the best way to look for levels to enter the next long, also helps us see levels we could find support if we drop further, the .236 has been good support so far but as you can see I have drawn a potential pattern here.
head and shoulders could be playing out here, would make sense just on a shorter time frame to give a reset to the indicators just to make way for the next move up, either the price target marked (4176) or the -0.27 on the fib at 4215, time will tell overall I am extremely bullish and the hardest part about times like these is trying to be patient and wait for amazing entries!!
things to note:
- BE PATIENT NO FOMO
- look for break of 4137 level and test as support to signify another move up
- be careful of head and shoulders playing out and look for retest of 0.382/0.5 level
- look for support at 0.236 in short term but more times we test more likely break lower, again WATCH HEAD AND SHOULDERS
