Day traders' after-market lounge December 28, page-34

  1. 43,787 Posts.
    lightbulb Created with Sketch. 991
    @gold1650 I've got plenty of thoughts on what is on the hourly chart for December especially at the double bottoms, monthly and weekly lows and the 200% range expansion to a price target of 0.0040 and none outside of that.
    December began with three pushes lower to the monthly low at the orange line. In that same time period it had three attempts to break out above the weekly low.
    On the 14 December it it spiked down to form a double low for the December and a triple low if you count the November pullback to the exact same level.
    It then pushed up three times to create a fourth failed breakout for the month above the weekly low.
    It then pulled back to test the top of the weekly low for support and bounced to form a fifth false breakout above the weekly low.
    Price then pulled back one more time to create a double bottom at the top of the weekly low the dump was complete and the pump began.
    One measured move to the top of the consolidation which formed a double bottom was 0.0725 and a 200% range expansion above that gives a target price of 4 cents where a significant pullback would probably be expected.
    https://hotcopper.com.au/data/attachments/5853/5853147-d8ae0c92efb879d876c6df85438d379c.jpg
    https://hotcopper.com.au/data/attachments/5853/5853166-9a1c7aa2e451828b00043ec706b25f69.jpg



    Last edited by Patterns: 31/12/23
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.