Z for Zorro
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There has been a slashing of prices, having many a trader left grasping at reasons and guesstimating outcomes. Money Man urges all not to take harsh actions and calm their farm.
Price is looking for walls to bounce off of and the “wall” that it chose for this bounce changed the short-term trend line. Again, the question is; when does this correction up turn into a reversion up? Money Man believes that this can happen as early as Decision Box 1, but failure could send us to the nearby Red Targets. The Green Targets are again illustrative of the conservative bounce back to highs, but then also the possible consequences of breaking them. There has been notable change in these above 20 000.
Conclusion: The main reason for this analysis is the search for a pivot from downtrend to a return to “normal” prices or even better. Money Man is not advocating the catching of a falling knife, but sensible positioning if strength becomes obvious. Doing so with market orders could see you chasing the price into the highs and that is not advisable. Very Important to me: Please like if you appreciate the effort, Please comment and so contribute to the development of this and Please follow if you see this analysis thread going somewhere that you would like to know about.
Price is looking for walls to bounce off of and the “wall” that it chose for this bounce changed the short-term trend line. Again, the question is; when does this correction up turn into a reversion up? Money Man believes that this can happen as early as Decision Box 1, but failure could send us to the nearby Red Targets. The Green Targets are again illustrative of the conservative bounce back to highs, but then also the possible consequences of breaking them. There has been notable change in these above 20 000.
Conclusion: The main reason for this analysis is the search for a pivot from downtrend to a return to “normal” prices or even better. Money Man is not advocating the catching of a falling knife, but sensible positioning if strength becomes obvious. Doing so with market orders could see you chasing the price into the highs and that is not advisable. Very Important to me: Please like if you appreciate the effort, Please comment and so contribute to the development of this and Please follow if you see this analysis thread going somewhere that you would like to know about.
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I notice that my Green Target numbers do not make sense: 1,2,3,3,4 should be 1,2,3,4,5. Of which the then new 4 or old second 3 is the most important.Commentaire
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