Update with long position and a less messed up chart. Initial chart in related ideas.
T1 April/May 2015: 11.27
T2 May-September 2015: 12.30
- Strong double bottom forming on weekly/daily
- Oversold on weekly with a positive divergence
- Close above T1 11.27 would confirm double bottom
- Price action will probably cool off a bit during T2 due to increasing resistance.
- If price action doesn't cool down during T2, and the longer term downwards resistance is broken, this could potentially go for fib 0.618/14.59 as T3 for 2015
T1 April/May 2015: 11.27
T2 May-September 2015: 12.30
- Strong double bottom forming on weekly/daily
- Oversold on weekly with a positive divergence
- Close above T1 11.27 would confirm double bottom
- Price action will probably cool off a bit during T2 due to increasing resistance.
- If price action doesn't cool down during T2, and the longer term downwards resistance is broken, this could potentially go for fib 0.618/14.59 as T3 for 2015
