ROSE - Maintaining Trend
This is an update to the post where we pointed out ROSE was at the top of her trend. Please refer to "ROSE - At Key Level in the Trend"
If you go look at that post I pointed out how if ROSE held the top as resistance then ROSE would fall back to her support trendline around $0.06. This is exactly what we have seen play out so far. Rose is being supported on the daily by both her support line and the 0.618 (golden ratio). As long as we continue to hold this ROSE's price will move up back towards the top of the triangle. If we do end up closing a daily candle under ROSE's support trendline then watch for the trendline to start acting as new resistance. If that does occur take shorts below that trendline opposed to longs above it. For right now, Rose's trend remains intact.
If you go look at that post I pointed out how if ROSE held the top as resistance then ROSE would fall back to her support trendline around $0.06. This is exactly what we have seen play out so far. Rose is being supported on the daily by both her support line and the 0.618 (golden ratio). As long as we continue to hold this ROSE's price will move up back towards the top of the triangle. If we do end up closing a daily candle under ROSE's support trendline then watch for the trendline to start acting as new resistance. If that does occur take shorts below that trendline opposed to longs above it. For right now, Rose's trend remains intact.
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