Maybe. On higher timeframe, still looks bearish, a Bounce is likely from the 21 MA IMO.
See the 'h' pattern? Primary and Secondary sells. Indecision and consolidation followed.
Would not get real Bullish just yet, although it sure suggests we could see higher next week.
These indicators are by no means foolproof, but they do help you to not make expensive mistakes;
so, closing shorts might be wise here, even if it's too soon to go long.
Not investing advice; trade at your own risk, GLTA!
See the 'h' pattern? Primary and Secondary sells. Indecision and consolidation followed.
Would not get real Bullish just yet, although it sure suggests we could see higher next week.
These indicators are by no means foolproof, but they do help you to not make expensive mistakes;
so, closing shorts might be wise here, even if it's too soon to go long.
Not investing advice; trade at your own risk, GLTA!
Comment:
Was early for long, LOL; I was so sure that damned gap would fill I bought calls and watched them melt. Gor back on puts but missed the big move, banked the rally EOD. BE CAREFUL CHASING THIS RALLY! Might rollover and double down here, pure guess which way it gaps Tues. A gap UP is certainly possible!
Comment:
BTW, IF it gaps UP, that gap will surely fill, no need to chase! Probly better in cash atm, high uncertainty.
Comment:
Corrective structure with a B wave vs possible 2nd EW formed/near completion, next move ismeasured move down to ~ 4500 , maybe a deeper dig with extension or 4400 possible if it forms a 3rd impulsive wave structure.
IMO this is NOT going to new ATH and NOT going back to 4800. Pretty sure that will be the long-standing ATH for a long time, perhaps 2023 or even later. Free money has run out, rate hikes coming soon, party is over.
IMO this is NOT going to new ATH and NOT going back to 4800. Pretty sure that will be the long-standing ATH for a long time, perhaps 2023 or even later. Free money has run out, rate hikes coming soon, party is over.
Trade closed: target reached:
Rally is over IMO, going short again. looks like Wyckoff distribution phase B SOW, C wave down coming next week IMO
