Hello
Here is a quick follow-up on latest Gulden price action
1) 40 cents rejection & O-I-O candles pattern
So after extending it's 3rd push, price rejected 40 eurocents in making a 'Outside-Inside-Outsite' candle pattern.
This can be seen in more details here:
Triangle pattern as an re-accumulation pattern (which it normally 'is').
Price break out by the bottom and enter a bearish wedge. While doing so price left 'clues' (see orange line).
2) Going for push 2 area - sub 25 eurocents possible
Price is now set to go back 'play' with 30 cents area and go back to push 2 level (see next pic) around 25 cents.
This could give some of you the idea of selling... DON'T !
If you didn't took (partial) profit above 35 cents, you missed that counter-trend move !
3) Real money is 'with-trend'
This doesn't mean you can't profit from the dip, it's just very ill-advised to doing by shorting.
On above picture, take a look at the pink trendlines, they are forming a very nice and healthy 'fan slope' (increase symmetrically with about the same slope angle).
The lighter pink one will probably be breached soon.
On a higher timeframe move from push 1 to 3 is just Level 1.
This means the 40 cents to 25 cents move is a correction but the bottom of that range will present some very nice continuation patterns (the best kind there are).
THOSE trades will be available for some great risk/reward ratio with high probability 😙.
If you'r unsure, HODL, sit on your hands and relaaaax 😎
Don't hesitate to join us on Telegram, upvote, share and ask questions in comment section.
Much love
Cédric
Tatch Capital Limited
[TCN]: Tatch Convertible Note (aka TatchCoin)
https://tatchcapital.com/token.html
[EUR/TCN]
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GuldenTrader
GuldenBites
All disclaimers and common sense apply.
No advise, just personal commentary.
"Never go full retard".