DCB watch -> bullish shark
Updated
Shark pattern in effect here w/ a failed breakout at the 1.13. Perfect retrace so far to .886 which coincides w channel support. Looks to be bouncing and short TF RSI seems to confirm the bounce. If it doesn't go lower here, we're looking at a .5 retrace of the drop to about 279.35.
I think it's a DCB and we finally break the channel later this week, but staying nimble here until the 21DEMA gets broken is wise.
I think it's a DCB and we finally break the channel later this week, but staying nimble here until the 21DEMA gets broken is wise.
Comment
Perfect fib levels on this shark so far...Comment
Retrace well under way... Looking for a reversal in the 50-61.8% area for a confirmation of a 5-0 pattern that heads back down to the 275 range. Until that lower TL breaks you have to assume that it can still bounce back up to retest the high...Comment
Unloaded all long scalps. Didn't quite make it up there. Most likely we'll get some kind of gap up tomm into the zone and we sell off again.Comment
LOL spoke too soon... the MMs got their 50% retracement in the final minute. 280 is the number to watch. If it can't break above it tomorrow we're goin' down... and prolly goin' 'down hard.
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