Final retrace to 8.9K zone before breakout of global triangle

9 ก.พ. 2020

Fib lines, 200 SMA, the CME gap (presuming we stay above 10K through Monday) and the "global triangle" all seem to converge on this PA. I think we may go sideways for a bit longer, possibly until Monday, and then we will start retracing. I think 8.9 will be our bottom in this last retrace. I don't think it will stay there for long and I also think that's going to set us up for a parabolic run past 14K before summer.

A break below horizontal support of 9.2 will confirm this move. Continued bullish action above 10.2, say, a couple of daily closes next week above that level and this trade is entirely invalidated and I don't know WTF is going on.

11 ก.พ. 2020

บันทึก

Seems like there’s a lot of bullishness out there - was expecting we would at least get to 9.2 before heading back up.