Is this channel valid and is this a bull trap inside it? Only time will tell....
$10,600 has got to hold to keep this run up valid and we have to break out of the channel and stay out.
I still have my base long position and a pile of cash. Just waiting for the right opportunity to add to my longs.
$10,600 has got to hold to keep this run up valid and we have to break out of the channel and stay out.
I still have my base long position and a pile of cash. Just waiting for the right opportunity to add to my longs.
Note
The price is clearly out of the channel and it doesn't look to be coming back inside any time soon. If we break 12,065 there is a good chance it keeps going.What people are calling a WXY or WXYZ could just as easily be an ABC for Wave 4 and what we are seeing is the start of Wave 5 up. That's how I'm currently playing it until prices say otherwise....
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.