Shorter Term:
I want to see whether the shorter term moves are going to form a channel or a tighter wedge.
Looking for 3 pushes up before taking profits, depending on the pattern created and the strength of the bulls/bears.
Either way there will MOST likely be a bearish breakout for a pullback, in which i will take profits near the tops (soon).
Longer Term:
i believe we have just completed a "smaller" wave 1 cycle and beginning the next waves up. So in the medium term, i see some more long.
I want to see whether the shorter term moves are going to form a channel or a tighter wedge.
Looking for 3 pushes up before taking profits, depending on the pattern created and the strength of the bulls/bears.
Either way there will MOST likely be a bearish breakout for a pullback, in which i will take profits near the tops (soon).
Longer Term:
i believe we have just completed a "smaller" wave 1 cycle and beginning the next waves up. So in the medium term, i see some more long.
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Looking for the final leg down
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Check top right chart - potential ABC pattern formation for higher prices. Want that 1 hour to close strong.
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5 min closes strongly bearish and with follow through and we might continue going down.
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B Leg complete, now going down for C leg.
Underdoing the 2nd push down out of 3. Looking for reversal afterwards.
Take profits soon to come once reached close to end of leg down.
Once this leg down is complete, will look to enter into a buy for continued LONG moves.
Underdoing the 2nd push down out of 3. Looking for reversal afterwards.
Take profits soon to come once reached close to end of leg down.
Once this leg down is complete, will look to enter into a buy for continued LONG moves.
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Miscount. Nevermind. BULLS in. Good BUY :)
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Reversal in the zone (5min)
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Price came back down to the beginning of the breakout point as buyer's didn't follow through.
Within this correction down i can see there are some buyer's still here.
We have come down to the bottom of the breakout point for the deciding factor of which direction we will go.
If price breaks above strongly then that beginning of the breakout point is the end of C leg and beginning of the next impulsive move up.
If price continues does and breaks below the beginning of the breakout point then our C leg down hasn't completed yet.
Going by the market, it appears there are bulls ready to drive this up from the breakout and the bulls within the correction.
Within this correction down i can see there are some buyer's still here.
We have come down to the bottom of the breakout point for the deciding factor of which direction we will go.
If price breaks above strongly then that beginning of the breakout point is the end of C leg and beginning of the next impulsive move up.
If price continues does and breaks below the beginning of the breakout point then our C leg down hasn't completed yet.
Going by the market, it appears there are bulls ready to drive this up from the breakout and the bulls within the correction.
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Follow through entering.
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Follow through good.
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My Mistake guys :(
I should have known once price reacted like this within the range.
I should have known once price reacted like this within the range.
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bottom right chart ^
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almost done with the C leg down. Should be a buy soon.
Shorting until the bottom area of the first pullback after the spike.
Will look for long moves after this correction is done, where bulls can buy at a position where their risk is reduced.