Strong Resistance @ 8186 w/ higher lows

24 de mai. de 2019

We have been in a strong upward trend over the last month with only a slight hiccup on the 17th where we dropped down to retest lows. this most recent push to the upside may spell a renewed sense of hope for the bulls but there is strong resistance up at $8186.70 which was defined on 16 May and again on the 19th, leaving us in some sort of wedge. We are sitting about $200 below that as of this writing. As I was looking at the 1M this morning I noticed an obvious bull flag forming. When I drew out the target it brought us up to 8045 and change. My best guess is that we travel up to around 8045 this morning and consolidate for a while. We may see a break to either direction when New York opens, but the long term shot IMHO is another test of that $8186.7 level; at which point, I leave it to you.

Any further questions you may reach me on twitter @joelbenavidez
-Best Regards...

24 de mai. de 2019

Trade fechado: objetivo atingido

Briefly before i get down to business, I am using tradingview as a sort of interim trading journal, so I will be posting weather and mood info for later reference. For the purposes of today, it was hot and muggy as all get out, partly cloudy, and I felt pretty good; driven and focused. Ok, now down to brass tacks...

Drawn target of 8045 was reached and there is continuation is in progress but we are still consolidating up around ~8080. This means, of course, that we are yet to retest highs near that 8186 level. Nor have we made any dramatic breaks to the downside to retest this ascending trendline. Your boy is on it but don't hang on me before you set your alerts. Imma' get mine first. ;)