There are two scenarios I'm watching at the moment:
1. Bearish - the break of the uptrend or ascending triangle signals a target of 5k euros, I have some buy orders set for there. As I'm following the daily chart on this, it's a long wait IF it is to achieve this.
2. Neutral / Bullish - looking at the local fibs (not shown) there is the 0.618 fib retracement on the red line at 6.4k euros, it seems to be holding well and I have buy orders also set for this line in case it acts as strong support in future. We had a TD9 on the daily and we have a reversal candle, hopefully looking to set up 9 days of steady upside.
On the four hour there is also a C-clamp forming on the ICHI cloud settings, this typically indicates that the price will move towards the middle of the two tenkan and kijun.
So i am short term steady growth with a cautious eye on a possible long term slide to 5k euros.
1. Bearish - the break of the uptrend or ascending triangle signals a target of 5k euros, I have some buy orders set for there. As I'm following the daily chart on this, it's a long wait IF it is to achieve this.
2. Neutral / Bullish - looking at the local fibs (not shown) there is the 0.618 fib retracement on the red line at 6.4k euros, it seems to be holding well and I have buy orders also set for this line in case it acts as strong support in future. We had a TD9 on the daily and we have a reversal candle, hopefully looking to set up 9 days of steady upside.
On the four hour there is also a C-clamp forming on the ICHI cloud settings, this typically indicates that the price will move towards the middle of the two tenkan and kijun.
So i am short term steady growth with a cautious eye on a possible long term slide to 5k euros.