Bulls defended the weekly low and made a convincing breakout yesterday. This is a powerful statement, although buyers have not yet proven their control. To do that, they must first establish a weekly higher low, which is likely to happen next week (of course, we need to monitor how things develop). This presents a great opportunity for a long play, but buyers should wait for a pullback and scout for an hourly higher low. Ideally, this should occur near the previous Volume Area High (VAH). An example of the trade is shown on the chart.
You can read full analysis of the market below
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
You can read full analysis of the market below
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
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this is not a healthy retracement
