I used the red bars to show the lower highs in the down trend and the green bars to show higher lowers on the trend reversal.
The trend reversal looks complete and as a more aggressive trader I am close to my full position but a more conservative trader will want to see us cross the $17,250ish area before confirming. Breaking $17250 will break the last lower high we set before the all out dump to $10,400.
4hr higher lows was lost this morning. We still have the daily higher low in place. I am still long this position but it is not acting as strong as I had thought.
Is there a target price once it breaks and crosses 17,250 before dumping to 10k?
bcampbell32
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@vspectra, I dont see it dumping to 10k, what I meant was 17250 was the last lower high before the all out dump we saw last month. Crossing the last lower high during the downtrend should confirm trend reversal. I am playing as if its already been confirmed (see macd cross post from yesterday). I dont give price targets but I see all time highs soon.