now im getting carried away
הערה:
We are right on schedule. Gap of death below being defended by bulls. Resistance above making their mouths water.
הערה:
We can expect pullback here or at about 7.00 with ~5.50 being primary support. Expecting a breakout from the triangle after ranging for a few months.
הערה:
Red lines in this chart are what im expecting for pullbacks
הערה:
You could TP on these price points but I'm planning this as a longer hold to play the triangle break out. I may take some profits around the 7$ range.
הערה:
So I'm expecting us to range here between ~5 and 7 until an upside breakout of the triangle is too appealing to the bulls. Trading the breakout, so this means I will accumulate as we range.
הערה:
We are in important location here. Needs to stay on the trendline and close today around 4.9
הערה:
After weekly close we are right at the bottom trend line. We could test 4.79 or even 3.5, but I think its more likely we test 5 or even consolidate above 5 as we continue to range.
הערה:
4.79 being tested now
הערה:
Defended. Now watching 5.50. If we break above it, expect more impulse up. If we reject from that level, time to continue ranging.
הערה:
Also, earning reports coming in 2 week.
הערה:
Moment of truth for the bulls. Will 4.78 hold and bring us back to moving average of 4.9, or will we reject from here and go down to our lows at 3.5
הערה:
Look at us riding along the trendline nicely. Springtime break-out is what I'm expecting for this trade.
הערה:
I expect a pullback at 6.33, around there ill sell 20% of my position and load back up on the dip. Cheers
הערה:
We are continuing to range right along the trend line. The longer this gradual upward pressure happens, the more likely we see a break out in the Spring or Summer.
הערה:
Caronavirus playing with this trade. Setting my stop at 3.30, expecting a big bounce at 3.50
הערה:
Stock market looks too corrective. Trade closed and re allocated to gold.