In my last post, I indicated that we may go down as part of a bigger ABC correction. The rising wedge currently forming could support that. Bulls will argue that the (C) correction already happened at my (A) and that we are now in the first leg of the final wave (5) (to USD 6.000 - 10.000). Both theory's can still be upheld.
In any case, there is a short term crossroad ahead. One line is formed by the downward channel and the second line is formed by the rising wedge.
For the moment, I favor the bulls, going up in the rising wedge. 3800 is an important support level for the bulls. Breaking that could set the (B) - (C) correction in motion.
In any case, there is a short term crossroad ahead. One line is formed by the downward channel and the second line is formed by the rising wedge.
For the moment, I favor the bulls, going up in the rising wedge. 3800 is an important support level for the bulls. Breaking that could set the (B) - (C) correction in motion.
Trade active:
Break-out of the downward channel confirmed, setting the 4 -5 wave in play. I entered into the long just after the break-out at 3950. Now setting the stop-loss at 3965 for a clean-out.
Comment:
First target reached at 4050. Took some profits. And increased stop loss to 4000 for a certain profit out.
Comment:
This is the last call for the bulls. Break this level and its bear territory...
This is the last call for the bulls. Break this level and its bear territory...