I guess the reverse cup and handle I had drawn out on the 5 minute and one minute chart worked out too bad I did not have a put option in place. I would have recovered some of my losses chasing the rabbit on $ORCL. I'm not going to lie this market has me shook. I seriously prefer crypto. Participating in a market that is this effected by someone talking is ridiculous. What I am trying to learn is price action. I am also learning to use the 50 day Moving Average indicator. I am not fully comfortable. I have been able to use FIB retracement tool along with some other indicators whether it be a chat pattern or the MVA.
So, if you zoom in to the area where consolidation is taking place using the FIB retracement and support and resistance lines it may touch $662-$663. If it breaks out with a strong green candle we may have a recovery, but it breaks out lower below support with a strong red candle you will see a breakdown further down to previous supports $658, $654, $652.70 To close a big gap,
The reason I also say it may touch $662-$663 is because we should be tracking that the candles have to either bounce off of or tread about the 50-day MVA. So, either way there is money to be made but once this month and the holidays are through expect this to breakout much higher to $700 if trump gets his way. AKA Printer go BRRRRR. He's a master market manipulator and Perma bull
In the meantime, sit and wait for a good breakout I may have to exit my current position at a loss. Scary times we are living in. Get your life right with The Lord Jesus Christ.
AS ALWAYS THIS IS NOT FINANCIAL ADVICE, PURELY USING MY SELF-TAUGHT TECHNICAL ANALYSIS OF THE SITUATION. GODBLESS YOU ALL AND I PRAY YOU ALL HIT YOUR GOALS THIS MONTH.
So, if you zoom in to the area where consolidation is taking place using the FIB retracement and support and resistance lines it may touch $662-$663. If it breaks out with a strong green candle we may have a recovery, but it breaks out lower below support with a strong red candle you will see a breakdown further down to previous supports $658, $654, $652.70 To close a big gap,
The reason I also say it may touch $662-$663 is because we should be tracking that the candles have to either bounce off of or tread about the 50-day MVA. So, either way there is money to be made but once this month and the holidays are through expect this to breakout much higher to $700 if trump gets his way. AKA Printer go BRRRRR. He's a master market manipulator and Perma bull
In the meantime, sit and wait for a good breakout I may have to exit my current position at a loss. Scary times we are living in. Get your life right with The Lord Jesus Christ.
AS ALWAYS THIS IS NOT FINANCIAL ADVICE, PURELY USING MY SELF-TAUGHT TECHNICAL ANALYSIS OF THE SITUATION. GODBLESS YOU ALL AND I PRAY YOU ALL HIT YOUR GOALS THIS MONTH.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.