After the big bearish move, the market seems to make a pullback. The market has made a W pattern and it has already retested it so it seems the market will look go up a bit. As the W pattern is not perfect, there's 2 targets: first green line and second green line above the first one which are the price range movements of the patterns. This is on 15 minutes, so we're looking for long positions on lower time periods.
If this happens, our targets could be pottential entries for a short position. I'm inclining to believe that the market would look for the second target. I recommend to wait for candlestick patterns.
Remember that this is a lower time frame, it seems the market in a higher frame is in a bearish move.
Do you have any other ideas? Let me know on the comments.
If this happens, our targets could be pottential entries for a short position. I'm inclining to believe that the market would look for the second target. I recommend to wait for candlestick patterns.
Remember that this is a lower time frame, it seems the market in a higher frame is in a bearish move.
Do you have any other ideas? Let me know on the comments.