Quick run through my charts this afternoon to see what price action is telling me. That be telling me "I WANT TO GO LOWER". From a weekly and daily perspective, I see some more downside ahead.
The 4HR is my favorite chart and as today we managed to see price action break the 200EMA and not look back reaching the first red zone, i called the other day, so price action is playing out as expected.
Right now, price is testing the lower side of that zone and will likely move the next on the chart. A quick scan of all lower level charts tells me lower price action is most likely a reality and sub 9K is not far away.
I would not be surprised to see price action make it down to that weekly .786 fib level down around $8500. I don't really like to call exact numbers, so I'll call it as $8700 - $8300. To be honest... price at $7500 area would not surprise me either.
I believe we are entering great buy zones again, so remember to cost average into a position as price. Be ready to enter on more dips lower.
i hope you enjoyed the video... give me a like and let me know what you think.
oh.... still haven't completely worked out my sound issues... apologizes.
The 4HR is my favorite chart and as today we managed to see price action break the 200EMA and not look back reaching the first red zone, i called the other day, so price action is playing out as expected.
Right now, price is testing the lower side of that zone and will likely move the next on the chart. A quick scan of all lower level charts tells me lower price action is most likely a reality and sub 9K is not far away.
I would not be surprised to see price action make it down to that weekly .786 fib level down around $8500. I don't really like to call exact numbers, so I'll call it as $8700 - $8300. To be honest... price at $7500 area would not surprise me either.
I believe we are entering great buy zones again, so remember to cost average into a position as price. Be ready to enter on more dips lower.
i hope you enjoyed the video... give me a like and let me know what you think.
oh.... still haven't completely worked out my sound issues... apologizes.
