Hello Traders,
today's session was one with a high a/d-Ratio=11 and rise to 11048 on a closing basis. Today's high was set @ 11057! the structure from 10782 to 11057 indicates an a-b-c pattern that is close to being done or needs one more „down-up“ sequence!
Note that such high levels of buying-pressure indicate often fakes, bull traps and"suckerplays" within a countertrend move!
At 11080.5 and 11145 are two waves „4“ of lesser degree. Both are predestined for a target zone, but rise to the upper boundary of the trend channel makes wave „y“ =“w“ and fulfill the expectation for this pattern. But more bullish potential exists.
If this count plays out, after that target range is achieved, a new decline below the 10782 area is next to occur.
The broader market has advanced in unison and makes this, short term uptrend“ a first hint that the low is indeed in lace or just around the corner.
I will update the chart in the coming hours.
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
today's session was one with a high a/d-Ratio=11 and rise to 11048 on a closing basis. Today's high was set @ 11057! the structure from 10782 to 11057 indicates an a-b-c pattern that is close to being done or needs one more „down-up“ sequence!
Note that such high levels of buying-pressure indicate often fakes, bull traps and"suckerplays" within a countertrend move!
At 11080.5 and 11145 are two waves „4“ of lesser degree. Both are predestined for a target zone, but rise to the upper boundary of the trend channel makes wave „y“ =“w“ and fulfill the expectation for this pattern. But more bullish potential exists.
If this count plays out, after that target range is achieved, a new decline below the 10782 area is next to occur.
The broader market has advanced in unison and makes this, short term uptrend“ a first hint that the low is indeed in lace or just around the corner.
I will update the chart in the coming hours.
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!