W1 we don't have any bearish divergence so I'm expecting the Z up ultimately targeting the 161.8fib extension.
D1 We are getting either running or expanding flat, Where C wave down end's is anyone's guess and there is no confirmation that C wave is over. I'm seeing a similar structure on a couple of the other US indices.
The next larger impulse is to the upside so I'm only looking for buy's. Wait for bullish flag's on the lower time frames to confirm more upside before buying!
Scalper's can still look for short scalp taking profits if you see the setups but I see the downside as limited!
This is a longer term view so keep an eye out for update as price play's out!
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D1 We are getting either running or expanding flat, Where C wave down end's is anyone's guess and there is no confirmation that C wave is over. I'm seeing a similar structure on a couple of the other US indices.
The next larger impulse is to the upside so I'm only looking for buy's. Wait for bullish flag's on the lower time frames to confirm more upside before buying!
Scalper's can still look for short scalp taking profits if you see the setups but I see the downside as limited!
This is a longer term view so keep an eye out for update as price play's out!
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential long term setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
H4 we got nice bull div and impulse up breaking the structure, If you not in yet look for H1 bullish flag to confirm more upside and buy the break.
Comment:
We ended up getting expanding flat in W1 wave X so I'm looking for the Z up to complete the structure ultimately targeting the 161.8fib extension.
We have nice impulse up on D1 with the MACD filter crossing up so I think the correction is over.
H4 looks like we might be close to having 5 up with bearish divergence (I don't think wave 5 is over) so now I wouldn't recommend jumping in but instead be patient and wait for the D1 bull flag (H4 correction) before looking for the buy to get the best risk, reward entry.
You can scalp bull flags but in my opinion its getting to risky with the H4 bear divergence.
We have nice impulse up on D1 with the MACD filter crossing up so I think the correction is over.
H4 looks like we might be close to having 5 up with bearish divergence (I don't think wave 5 is over) so now I wouldn't recommend jumping in but instead be patient and wait for the D1 bull flag (H4 correction) before looking for the buy to get the best risk, reward entry.
You can scalp bull flags but in my opinion its getting to risky with the H4 bear divergence.
Comment:
H4 count, you can see were starting to get bear div. It doesn't really mean much early on in a larger impulse but It's a warning sign lower degree impulse could be coming to an end, there's no confirmation that Z up is over.
H1 we got TL break and Looks like were getting impulse down.
M15 looks like were getting really nice expanding flat correction for more downside. safest entry is sell stop just under internal B wave with SL just above wave C if you want to scalp the H4 correction down, or you can go down on lower TF and look for bear flag to get earlier entry with better RR.
H1 we got TL break and Looks like were getting impulse down.
M15 looks like were getting really nice expanding flat correction for more downside. safest entry is sell stop just under internal B wave with SL just above wave C if you want to scalp the H4 correction down, or you can go down on lower TF and look for bear flag to get earlier entry with better RR.
Comment:
Those looking for the scalp short look for your sell setup.
Comment:
Top broken, we have the W1 Z up which may not be over but time to start to look for the shorts!