There has been a lot of talk about this one floating around. I did this quick mark up for a buddy who wants to make a play.
Purely based on simple Reversal Pattern Price Action Coupled with RSI Confluence at the Entry Price, there is indication of a bullish rally following this correction (we filled that Gap nicely).
He asked what would be a good price to go Long.... I told him if I were going to go Long on this I would look for a buy at around the $6 level. The Closer to $6.-- the better.
This is purely instantaneous analysis and boredom based speculation. Every dog has his day. Use good MM if you trade and learn from your and my mistakes.
Happy Longing
Purely based on simple Reversal Pattern Price Action Coupled with RSI Confluence at the Entry Price, there is indication of a bullish rally following this correction (we filled that Gap nicely).
He asked what would be a good price to go Long.... I told him if I were going to go Long on this I would look for a buy at around the $6 level. The Closer to $6.-- the better.
This is purely instantaneous analysis and boredom based speculation. Every dog has his day. Use good MM if you trade and learn from your and my mistakes.
Happy Longing
Happy profits!