Yeah, it maybe OK again......for me it depends more on your...

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    Yeah, it maybe OK again......for me it depends more on your timeframe right now.
    I mean it might start pushing up quickly again, no doubt......
    But for me it looks to be rolling over, and each push higher has seen reduced effort applied.
    So if it is going to really push hard again (and this doesn't turn out to be 'it'...and it could be....), then it might have to go through a more serious consolidation process...to flip out a lot of the traders and tidy things up a bit.
    Which is why I said that about the timeframe, short term traders be wary, swing traders would be watching quite carefully, and longer term holders are still OK.

    Just look at the chart below, you can see it is rolling over, and the first arrowed bar closes poorly on very high volume (who was selling there ??, was that the start of a supply event).....then each push after that had less effort (volume)....and the last one with an arrow saw price stand up again (although the close was a little off the highs), but there was no serious upside follow through after it.
    So personally, I would be a little wary now........it might go again no doubt.......but for me I have moved on......at least until it proves it has more in the fuel tank.......and it also proves that this whole process was more than just a liquidity event, so someone, or some group, can get out with a decent profit.

    That is how I see it...I might be right...I might be wrong...but I am happier to watch for now......

    KNM 230817.png

    cheers
    Last edited by Jako8557: 23/08/17
 
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