I expected a pullback when the price was strongly rallying:
And warned about entering long too early for the expected huge long term rally.
When doing an analysis i try to take the best information a tool can give me, not limiting to only one.
Here i'm using a combination of , 55 and 200, classical and .
The most important information here comes from . Looking at W1 chart we see a that BAND TO BAND duplication ocurred before pullback. After that price should retrace at least to the middle MA.
We have also a previous level of S/R and the 55 acting as support.
Here on D1 chart:
- EW WXYZ corrective structure
- corrective channel
- (see below)
- 200 acting as support
- expected pattern
- AO is finishing an ideal
I will watch the PA closely near the area shown on chart and update for possible long setups.
P.D. nice potential forming with a BIG potential target