The little scoop we are seeing here in the SOS phase of the reaccumulation looked familiar. I drew up a bars pattern on the 2 hour chart and dropped it onto the 4 hour. Didn't even have to scale the bars... they matched almost to the 1000th of a penny. How's that even possible? Is this kind of upside really possible? I'm a skeptic.
When I made my original drawing, my price target was $5-and change. My position isn't large so I'm just planning to let it ride and see how far we can get before we start to break down.
When I made my original drawing, my price target was $5-and change. My position isn't large so I'm just planning to let it ride and see how far we can get before we start to break down.
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That trend broke down overnight. So, this theory is off the table. I created a price target, instead, using some trend analysis and fib extensions. Feel free to check that out.
