Looking for Step #5 in this familiar fractal.
This could well be at the $6.9K to $6.8K.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
This could well be at the $6.9K to $6.8K.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
$6815 @ the 78.6 Fib
Comment:
The beginning part of this fractal played out well.
Bulls did a sling-shot move.
Target reached.
What next?
Consolidation phase.
Then what?
Dump!
Bulls did a sling-shot move.
Target reached.
What next?
Consolidation phase.
Then what?
Dump!
Comment:
Ok, now that the dump has happened, what next?
As this post is being updated, price is still dropping.
Well, we consolidate when this sell off has cooled down and settled at the bottom.
As this post is being updated, price is still dropping.
Well, we consolidate when this sell off has cooled down and settled at the bottom.
Comment:
Price may still drop to the 61.8% Golden Fib Level before a reversal. This level is a very common level of price reversal.
