Hello, I thought I would place my two cents on the table. We are seeing price action increasing, which is exciting! I see people posting bear flags, falling wedges, and etc. I almost got out of the trade last night thinking that we where about to drop to the 110s, but I saw a bullish divergence on the 4H RSI and I held strong.
Now, I bet your thinking he is about to say moon! I want to, but as of right now, we take it one day at a time. Why do you ask? It is simple we need to close above the 55 EMA and sustain. We still have the 55 & 100 EMA cross still in play so we could potentially see this occur. For me a close above 180 is the only thing that will convince me that this downtrend is over.
Be sure to look at the lower time frames and manage your risk I have been moving my stop loss accordingly and so should you!
Trade safely, and this is just an opinion not trading advice!
Now, I bet your thinking he is about to say moon! I want to, but as of right now, we take it one day at a time. Why do you ask? It is simple we need to close above the 55 EMA and sustain. We still have the 55 & 100 EMA cross still in play so we could potentially see this occur. For me a close above 180 is the only thing that will convince me that this downtrend is over.
Be sure to look at the lower time frames and manage your risk I have been moving my stop loss accordingly and so should you!
Trade safely, and this is just an opinion not trading advice!
