we saw this one coming. sure enough, that's looking like a right shoulder to me. the caveat being that we just got rejected by the long term bull trendline (white line).
i don't have time to trade this, but i would be looking for a better entry probably. maybe closer to $34k.
stop below the right shoulder, closer to $33k.
i still think we should trade with the mindset that $25k is just as likely as $45k, so i would continue taking modest profits and/or using a trailing stop.
i don't have time to trade this, but i would be looking for a better entry probably. maybe closer to $34k.
stop below the right shoulder, closer to $33k.
i still think we should trade with the mindset that $25k is just as likely as $45k, so i would continue taking modest profits and/or using a trailing stop.
