Despite being overbought, I think the crowded trade long has further to go.
If we clear all of the clutter illustrated on the chart, I think we work our ways towards the green box. The call outs are mostly calculated areas of resistance and levels to watch.
I think we are in the third wave of a subset and should see a pullback before the target area is hit. Be careful trading around 2131 as its the last remaining line of resistance or in EW speak, pivot.
Comments
gLloW
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2174 is my target... once we break 2137 it's going to fly.
Quantum_Maryland_Capital
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Excellent chart and in my work there is confluence in the low 70's. Thanks
dryanhawley
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Quantum, how did you get blank space above price? When I try and do a fir extension I run out of overhead room.
Quantum_Maryland_Capital
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Compress prices
Quantum_Maryland_Capital
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And then drag down the graph.......exposing higher prices. I should get two likes but one will do.
dryanhawley
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I will be glad to give you two likes, if you tell me how to compress price... The very first thing I tried was to scrunch up price and drag down, but nothing happens.. I have looked at every menu and I don't see "compress price" which is what I thought I was doing by using my mouse wheel to show more candles, scrunched up.
Quantum_Maryland_Capital
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Dont use the mouse just use the pointer to compress prices. And then do the same in the open graph field to expand.
Vytasbcn
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I agree, the pullback should be there imminent before another push.
Quantum_Maryland_Capital
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Agreed but there is little to suggest exactly when. Maybe we'll see a candle Monday or Tuesday hinting at what we both expect.