ðĨ CHZ Bearish Channel Success: Looking For Bounce
Two months ago I made an analysis on CHZ and the bearish channel it was trading in. My belief was that CHZ would continue to move down to $0.14 and $0.10, and potentially go to the bottom support of the pattern.
As of today, both my bearish targets have been hit. Congratulations if you had the patience for this trade.
I'm looking for further downside. $0.08 is the first target, the bottom of the channel the second target. Once we're below $0.06 it might be time to start looking for a potential long entry.
As of today, both my bearish targets have been hit. Congratulations if you had the patience for this trade.
I'm looking for further downside. $0.08 is the first target, the bottom of the channel the second target. Once we're below $0.06 it might be time to start looking for a potential long entry.
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