I should have just called a limit order at that 618.... But obviously strong uptrend, just pointing out that we are in over bought territory on daily, I would rather have liked to have seen it extend more. The question is, did it do a running flat and are we going up A LOT, or is NU (which I will just have to look at later out of time right now) about ready to retrace and does Nchf correct from here into a bigger pattern and end up breaking the low. I do see a possibility for more room up fib extension wise for a larger move up. However, you see an example here of how you can at least scalp the break of these diagonal patterns.
Commentaire:
If this is a diagonal pattern then I would expect a sharp move to the 69700 level from a break of the top trend line. U can always split up entries and look to support levels on the daily. This one can keep going up so u have to be careful. Nchf could be in a bearish double sequence that could be huge move down but the weekly TDI looks like it will have more upside ultimately, however that can always change, it's just an indicator. Also, if I throw a pitchfork on there it is wicking after barely breaking it.....