In my usual fashion, I have perfectly called the timing here! If price continues to have momentum above the side-wards resistance level and use it as a support level, then this is an obvious time to get into the trade, not only this but you'd have a great RR ratio, and a clear and defined stop loss level too. I highly recommend waiting for this level, unless you're a VERY experienced trader you can start looking for entries right now.
As it stands, price has actually tested the side-wards resistance, and I highly doubt it'll break in this candle, I think more shuffling first. Alongs the LH is NOT violated, this analysis stands and I am bullish (Albeit short term).
Bear in mind the breakout move will almost certainly stiop at around 3500, correct and then become a 3 wave pattern. It wouldn't be logical to expect a impulse flat right now.
Also bear in mind that getting in this second isn't logical unless you really know your s***.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will continue to update this analysis in real-time if this idea receives sufficient attention :-)
As it stands, price has actually tested the side-wards resistance, and I highly doubt it'll break in this candle, I think more shuffling first. Alongs the LH is NOT violated, this analysis stands and I am bullish (Albeit short term).
Bear in mind the breakout move will almost certainly stiop at around 3500, correct and then become a 3 wave pattern. It wouldn't be logical to expect a impulse flat right now.
Also bear in mind that getting in this second isn't logical unless you really know your s***.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will continue to update this analysis in real-time if this idea receives sufficient attention :-)
Well done to anyone who followed my advice here, was an easy profit maker if you went in early. If you're waiting for retest on side-wards resistance as support before entry then this is also a good idea.
The entry style here just entirely depends on your trading style.
Please leave a LIKE. I'd really appreciate it. :-)