1. Upper resistance @ 10000
2. Current support @ 7500 (currently testing)
3. Next level of support @ 5500-6000
4. 8-day EMA has been dynamic resistance level the entirety of 2018 (with the exception of a few false breaks)
5. Bullish Pin bar but...
-poor risk reward ratio
-countertrend
6. EFI is negative
7. A counter trend trade RIGHT NOW with a tight stop would have a great risk/reward ratio but also has a high chance of failure
2. Current support @ 7500 (currently testing)
3. Next level of support @ 5500-6000
4. 8-day EMA has been dynamic resistance level the entirety of 2018 (with the exception of a few false breaks)
5. Bullish Pin bar but...
-poor risk reward ratio
-countertrend
6. EFI is negative
7. A counter trend trade RIGHT NOW with a tight stop would have a great risk/reward ratio but also has a high chance of failure
Kommentera:
7 (updated)...please don't entertain this countertrend trade idea too seriously. I probably won't take it myself and will probably regret it if I do.
Kommentera:
Also 6. is mislabeled as 5. on the chart
Kommentera:
Could potentially still be a false break of support but I wouldn't bet on it.
Kommentera:
Dropping fast
Kommentera:
Bounced off of support. Watching to see how strong bounce is.
Kommentera:
Good bounce that is already testing resistance again. Volume has also really shot up.
Kommentera:
1 HR chart--still could be a false break of resistance
