This is an update on the weekly chart idea we have been tracking for over a month now.
After smashing all our Bullish targets we are now seeing the well overdue correction into the retracement range. The channel top and the retracement range are good areas of support for a reaction.
We have a body close below the retracement range opening the swing range. However, ema5 cross and lock will further confirm and strengthen this. The new weekly candle this week will have an ema5 defacement to the top of the channel, so may see some correction above to re- attach.
We will track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gaps for the future.
We are now seeing price break back inside the channel, and therefore will now track the movement down, inline with our plans to buy dips, using our smaller time-frames, keeping in mind the long range gaps for the future..
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