1 Day Candle finally closes above the green descending channel.

2 mar 2018

Great news as we see the daily candle close well above the descending channels top green trendline. All we need now is for the followup 1 day candle to also close above the trendline for a confirmed breakout. The 4 hr chart had been fairly bullish most of the day closing several 4 hr candles above the channel trendline...however the latest 4hr candle to close at the same time as the 1 day candle closed as a red doji, which as always represents indecision and the potential for a trend reversal. Since that was only on the 4hr and not also on the 1 day(which closed as a nice bullish candle) odds are good we can still maintain enough bull momentum to hopefully at least close another 1 day candle above the descending channel. Have your guard up and be prepared for a potential drop considering the red 4hr candle doji but probability still favors the price continuing to climb. As always watch for confirmation and any divergence from both the RSI and MACD indicators, and on the climb be on the lookout for any huge sell walls that may act as temporary resistance to help you decide the best times to buy and sell. I believe it will continue to climb because I believe we likely have a legitimate massive inverted head and shoulders on our hands....but to keep it still in play it has to continue to climb in the next few days. Maybe it's mostly wishful thinking but all signs point to it being valid thusfar.

2 mar 2018

Nota

the projected price spiek target just from the cup and handle alone was around 11200 so I'm confident we will reach that soon potentially in this enxt 4 hr candle.

2 mar 2018

Nota

the price reached right up to the cup and handle target and is now slightly consolidating dipping into the lower 10800s and more or less trading sideways...Since I believe the inverted head and shoulders will still eventually happen I personally don't see it changing course to bearish by any drastic measure and think we will likely just trade sideways for a few...still hoping that the current 1 day candle can close above the green descending channel line to confirm the breakout. I think smart stop losses below 10600 will prevent any serious losses but I believe we will bounce back upwards before reaching that low.