Good Morning Traders,
I've outlined a speculative take on price action moving forward. The daily and monthly indicators are going to move bullish soon so this will either play out soon OR may play out after we break to .19 and retrace back down (several days) but i'm leaning toward now, it's too soon to tell but, if "every gap" does indeed get filled you should be aware of the enormous gap between .11 and .07 cents all the way back from the start of the previous bull run (Yellow Box). I say this is more speculative because I don't specifically see this in the indicators however I have seen some elliotitions show wave "C" ending there. If we see a sustained violation of the upward trendline, we should begin to see some back testing of previous support levels. All horizontal lines can act as resistance / support on the way down, so if we get a bounce off of one or more of them watch to see if they don't confirm previous support as new resistance. If all goes according to plan I will go ALL IN at the Purple Box! I firmly believe that this is the final correction before the bull. I do not have a position right now, sometimes the best trades aren't trades at all. This is not financial advice, trade at your own risk.
I've outlined a speculative take on price action moving forward. The daily and monthly indicators are going to move bullish soon so this will either play out soon OR may play out after we break to .19 and retrace back down (several days) but i'm leaning toward now, it's too soon to tell but, if "every gap" does indeed get filled you should be aware of the enormous gap between .11 and .07 cents all the way back from the start of the previous bull run (Yellow Box). I say this is more speculative because I don't specifically see this in the indicators however I have seen some elliotitions show wave "C" ending there. If we see a sustained violation of the upward trendline, we should begin to see some back testing of previous support levels. All horizontal lines can act as resistance / support on the way down, so if we get a bounce off of one or more of them watch to see if they don't confirm previous support as new resistance. If all goes according to plan I will go ALL IN at the Purple Box! I firmly believe that this is the final correction before the bull. I do not have a position right now, sometimes the best trades aren't trades at all. This is not financial advice, trade at your own risk.