Nice gap up and pop today.
Its been quite a choppy uptrend (from the lows) that could be perceived to be bearish, but very often major uptrends begin like this. (This very much goes against Elliott Wave literature btw)
Due to this, it is the subsequent price action which is the reveal.
It was quite a steep pull back but this pop looks very good for now.
The steep pull back can now potentially be a completed 3 wave correction.
And so this may well be the next wave up.
One to keep an eye on though - slump action / liquidity sweeps, could change the picture.
If this can push nicely through the resistances then this is looking good to move on up 🧐.
Not advice.
Its been quite a choppy uptrend (from the lows) that could be perceived to be bearish, but very often major uptrends begin like this. (This very much goes against Elliott Wave literature btw)
Due to this, it is the subsequent price action which is the reveal.
It was quite a steep pull back but this pop looks very good for now.
The steep pull back can now potentially be a completed 3 wave correction.
And so this may well be the next wave up.
One to keep an eye on though - slump action / liquidity sweeps, could change the picture.
If this can push nicely through the resistances then this is looking good to move on up 🧐.
Not advice.
Trade active
Previous chart: Note
I covered CMG in today's all market video:
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Private Group | $50/month 💡
Contact → t.me/dRends35
Private Group | $50/month 💡
Contact → t.me/dRends35
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.
Broker I use → Vantage vigco.co/la-com-inv/8g5DVv78 | Indices | Forex | Crypto | Metals | Shares | Commodities ✨
Private Group | $50/month 💡
Contact → t.me/dRends35
Private Group | $50/month 💡
Contact → t.me/dRends35
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.