Text books use the term "Diamond" Chart Pattern.
Key Level Of Support is at $7860
Last Line Of Defense is at $7705
RSI has a Bullish Divergence. If RSI Level stays above Level 20, it will continue to be bullish even if price dips further.
Great Big Breakout Coming Very Very Soon!
Upside Breakout Target: $8827
Downside Breakout Targets:
1. $7540
2. $7223
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Key Level Of Support is at $7860
Last Line Of Defense is at $7705
RSI has a Bullish Divergence. If RSI Level stays above Level 20, it will continue to be bullish even if price dips further.
Great Big Breakout Coming Very Very Soon!
Upside Breakout Target: $8827
Downside Breakout Targets:
1. $7540
2. $7223
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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Downside target could go as low as $6K
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Upside Target Could Go As High As $10K
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Price could move another leg down but RSI is still in the bullish region (RSI Divergence at Level 20 or Higher is Bullish).
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Bear Trap!
This pyramid or diamond should've been a reversal in the first place.
This pyramid or diamond should've been a reversal in the first place.
