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We have a big chance of seeing upward movement.
Triangles are often following previous movements, here it´s upward, therefore the odds are in favor for it to continue upwards.
For the ones interested in Elliott WT then I beleive we're in the 4th wave in a small 30min to 1H timeframe.
Volume should soon grow which would make strong movement.
If the break is over the triangle, then the signal is strong BUY with first goal level between 913 and 934. It could get much higher but we´ve to wait for it to break this level to be sure.
If the break is under the triangle, then you shall wait because last triangle waves (E) are often false breakouts. If it gets lower than A 804 then it´s a sell signal.
Good luck with your trading, hope you liked it and please leave a like! :)
Triangles are often following previous movements, here it´s upward, therefore the odds are in favor for it to continue upwards.
For the ones interested in Elliott WT then I beleive we're in the 4th wave in a small 30min to 1H timeframe.
Volume should soon grow which would make strong movement.
If the break is over the triangle, then the signal is strong BUY with first goal level between 913 and 934. It could get much higher but we´ve to wait for it to break this level to be sure.
If the break is under the triangle, then you shall wait because last triangle waves (E) are often false breakouts. If it gets lower than A 804 then it´s a sell signal.
Good luck with your trading, hope you liked it and please leave a like! :)
Comment:
Volume is beginning to increase and breakout above triangle => HUGE chance for price to rise!
Comments
@JAGTTMAL, volume has decreased yes like it did from DEC 18 to DEC 29. That´s what happens during correction waves. Right now we know it will increase soon, more and more during the breakout.
It´s simple logic, some people have stop losses, other have buying/selling orders outside the triangle. This will trigger fast price movement and growing volume.
It´s simple logic, some people have stop losses, other have buying/selling orders outside the triangle. This will trigger fast price movement and growing volume.
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I think it's going down the next 2 days. didn't you see the news about tesla being forced to recall 160k cars after hours.
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