Good morning traders,
If you've been following my charts you'd be well prepared for the scenario we are currently in, I'm damn near 100% accuracy lately. On my previous chart I showed you a symmetrical triangle, with where it would go up or down depending on the breakouts, and I kept you up-to-date, accurately, I might add, when we had a false breakout above, and then the breakdown we now have below.
We currently have hit a temporary bottom, and what I believe is a new trading range, we should be looking to trade in the 12-13.5k range over the coming days.
Key Notes:
Currently, we should have another 1-3 hours of a bumpy ride until the 4hour Stoch catches up and curves upwards.
I want to make it clear - we are not out of danger yet, I believe we will still have a further correction downwards. If we look at the weekly and daily charts , we can see we still have a ways to go - but we are close. The weekly is at a point of curving up, but the weekly MACD is looking dangerous. Please see the weekly snapshot below:
snapshotThe daily reflects something similar, this was bloody, but we should have 1-2 days of range trading again, before what I imagine will be the final dip to 8k.
Lastly, to see the near perfect bottom found plotted previous check out:
snapshot
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