@Barkworth, The reason why I am considering a long position.
Barkworth
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@chorny.capital, Thanks for sharing. Here is the reason I am in, and where I got my levels:
chorny.capital
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@Barkworth, Thank. Right now, this chart looks like a morning test to me. :)
Barkworth
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@chorny.capital, Lol. It really is the green line, connecting the monthly lower highs that matters. I think a move upward will see significant resistance there, as it did 4 times before, since IPO. First we need to see a break above the 50MA. Maybe another week or two. In the meantime, it is important that is doesn't turn to the downside.
chorny.capital
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@Barkworth, I agree, it is important now that there is no further decline. From the point of view of the wave principle, I consider the current movement on the D1 timeframe as a series of first and second waves. In my opinion, the price area of $ 11 is critical in this scenario.
chorny.capital
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@chorny.capital, In the screenshot I depicted 1H, for better visualization.
chorny.capital
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@Barkworth, In the screenshot I depicted 1, for better visualization.
Barkworth
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@chorny.capital, that is really helpful info to me. Here is a screenshot of my hourly, with the Gann box. I have highlighted with magenta, the line that is important for the current uptrend. $11 is the key level to hold before the weekend.
Barkworth
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It worries me that it didn't attempt for the 50MA another time. We could be looking at another failed rally.