Today's move will dictate if the previous capitulation scenario will play out as the fractals have a familiar tune to it now.
The orange circles are highlighting the similarities of the price action.
The key point to pay attention to now: Price must stay above the 55W EMA, if price dips below and closes below the 55W EMA, the likelihood of a bearish market extension is highly probable. Price must stay above $7850.
Bullish Scenario: If price goes above the 21W EMA and stay above it, it's game time!
But right now, it's looking quite BEARISH!
WATCH THE 55W EMA!
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
The orange circles are highlighting the similarities of the price action.
The key point to pay attention to now: Price must stay above the 55W EMA, if price dips below and closes below the 55W EMA, the likelihood of a bearish market extension is highly probable. Price must stay above $7850.
Bullish Scenario: If price goes above the 21W EMA and stay above it, it's game time!
But right now, it's looking quite BEARISH!
WATCH THE 55W EMA!
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
