Finally, it appears that the bearish bias has ended and the bearish pivots that were forming descending tops and bottoms have ceased.
The averages 5, 8 and 13 that are part of Bill Allians' Alligator theory have been inverted and the teeth (average 5 - in green) are close to the candles (which means an upward trend).
In addition, the 9-period exponential moving average has also reversed (pink). Before, when it was a downtrend, the moving average was above the candles and in the uptrend it is below, serving as support. It is a strong indicator of trend reversal.
No less important, there was the formation of bullish pivots, with ascending tops and bottoms, which makes it possible to retrace and expand fibonacci combined with elliot waves for target projection, exactly as proposed in the study shown in the graph above.
For this trade, I will rely on Larry Willians' 9.1 setup, that is, if two candles form below the exponential average of 9 periods in H2 and the second exceeds the maximum by one cent, I close the trade, even if there is a loss.
In my opinion, I believe that it reaches all the projected targets.
May we all have good trades!
Hugs and success.
+++++++++++++++++++++++++++++++++++++++++++
Disclaimer of liability.
1. This analysis is not sure that the price will move as projected, any macroeconomic news, tweet from some political authority or even a misinterpretation of the graph made by the author can happen and cause loss. When in doubt, do not enter!
2. This is not a financial advice or entry signal, just my opinion as I see the market. Use this study to find out if it is in line with your study. Always make decisions based on your analysis!
3. Open small batches and few operations, you are unlikely to get rich. Be long-lasting in the market. Greed will only make you lose money. What will make you rich is your daily job well done combined with honesty and love.
4. Don't lose your mental health, prefer to close the operation and lose a little, you don't win every time (and when we think we can always win we usually lose everything), for this reason, ALWAYS use a Stop Loss according to your risk management.
5. Remember: you are solely responsible for your wins and losses, so be sure to handle an amount of money that you are willing to lose (due to the risks involved in the business) and never invest any amount that can cause you problems and damage your livelihood.
The averages 5, 8 and 13 that are part of Bill Allians' Alligator theory have been inverted and the teeth (average 5 - in green) are close to the candles (which means an upward trend).
In addition, the 9-period exponential moving average has also reversed (pink). Before, when it was a downtrend, the moving average was above the candles and in the uptrend it is below, serving as support. It is a strong indicator of trend reversal.
No less important, there was the formation of bullish pivots, with ascending tops and bottoms, which makes it possible to retrace and expand fibonacci combined with elliot waves for target projection, exactly as proposed in the study shown in the graph above.
For this trade, I will rely on Larry Willians' 9.1 setup, that is, if two candles form below the exponential average of 9 periods in H2 and the second exceeds the maximum by one cent, I close the trade, even if there is a loss.
In my opinion, I believe that it reaches all the projected targets.
May we all have good trades!
Hugs and success.
+++++++++++++++++++++++++++++++++++++++++++
Disclaimer of liability.
1. This analysis is not sure that the price will move as projected, any macroeconomic news, tweet from some political authority or even a misinterpretation of the graph made by the author can happen and cause loss. When in doubt, do not enter!
2. This is not a financial advice or entry signal, just my opinion as I see the market. Use this study to find out if it is in line with your study. Always make decisions based on your analysis!
3. Open small batches and few operations, you are unlikely to get rich. Be long-lasting in the market. Greed will only make you lose money. What will make you rich is your daily job well done combined with honesty and love.
4. Don't lose your mental health, prefer to close the operation and lose a little, you don't win every time (and when we think we can always win we usually lose everything), for this reason, ALWAYS use a Stop Loss according to your risk management.
5. Remember: you are solely responsible for your wins and losses, so be sure to handle an amount of money that you are willing to lose (due to the risks involved in the business) and never invest any amount that can cause you problems and damage your livelihood.