CENX - Pullback of the "Cenx-tury" or No?
Diupdate
An ascending wedge has been forming since 2016, and gradually has been building up volatility as more market participants get involved.
Price is very extended here, which signals for a pullback if not a strong downtrend into the lower bound of the wedge.
However, I could be totally wrong and the price could shoot up strongly for a continuation.
Let's see how it plays out, but for now, I am yet again short.
Stop at 23.83
Target at 22.06
Price is very extended here, which signals for a pullback if not a strong downtrend into the lower bound of the wedge.
However, I could be totally wrong and the price could shoot up strongly for a continuation.
Let's see how it plays out, but for now, I am yet again short.
Stop at 23.83
Target at 22.06
Trading ditutup: target tercapai
Target hit in 1 day, again, I can't complain; the market is treating me well. I will still watch the price action for another entry for a continued down move.
There's a lot of room to the lower boundary of this wedge but let's see how the market reacts.
It could turn out to be the short of the century...or not.
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