F/U from March 14 post (link below).
Calling tops is often a losing guess. But here is why I think it may be in.
1. Recent high is at the weekly channel upper line.
2. Recent high of 234 is at very close to the (5) = 2.618 level.
3. On 4 hour chart the last major wave up high is at the channel midline.
4. On the 1 hour it looks like a head and shoulders top may be developing.
Food for thought. No guarantees. A price close below the 4 hour channel line and the H&S baseline will support this idea. Process your way.
Feedback always welcome.
Take care. Have a great upcoming weekend.
Calling tops is often a losing guess. But here is why I think it may be in.
1. Recent high is at the weekly channel upper line.
2. Recent high of 234 is at very close to the (5) = 2.618 level.
3. On 4 hour chart the last major wave up high is at the channel midline.
4. On the 1 hour it looks like a head and shoulders top may be developing.
Food for thought. No guarantees. A price close below the 4 hour channel line and the H&S baseline will support this idea. Process your way.
Feedback always welcome.
Take care. Have a great upcoming weekend.
