We're in a situation with many scenarios.
Yellow is the downtrend channel. Pink is the descending scallop. Blue's are my two targets for going long.
Many are saying that we have one more leg down to 1550-1650...they could be right on July 31st if we maintain the downtrend channel. A riskier but oh so sweet chance would be that we continue the scallop and catch a dip at 1200-1300. And of course there's always the chance with some big news that we break out of the downtrend channel, rendering this chart useless.
Time will tell.
Credit to @yoringpoly for her original idea
Yellow is the downtrend channel. Pink is the descending scallop. Blue's are my two targets for going long.
Many are saying that we have one more leg down to 1550-1650...they could be right on July 31st if we maintain the downtrend channel. A riskier but oh so sweet chance would be that we continue the scallop and catch a dip at 1200-1300. And of course there's always the chance with some big news that we break out of the downtrend channel, rendering this chart useless.
Time will tell.
Credit to @yoringpoly for her original idea
