D1 we have bearish divergence and the TL coming into play. There's no confirmation D1 upside is over.
H1 I see 5 down with bullish divergence, There is no confirmation Z wave down has complete so more downside is not out of the question. I don't see any sell setups but see the potential for a buy for either D1 continuation up or at worst a correction up giving small profit or BE trade then looking for the short for another 5 down.
If we only get a correction up we should get a nice opportunity to get out of the long and look for the sell.
1) Z wave down we don't have confirmation it's over
2) Wait for TL break and bull flag to confirm more upside to come before entering the buy
3) 1st targeting the 50fib, 50fib level will change if Z wave not complete
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H1 I see 5 down with bullish divergence, There is no confirmation Z wave down has complete so more downside is not out of the question. I don't see any sell setups but see the potential for a buy for either D1 continuation up or at worst a correction up giving small profit or BE trade then looking for the short for another 5 down.
If we only get a correction up we should get a nice opportunity to get out of the long and look for the sell.
1) Z wave down we don't have confirmation it's over
2) Wait for TL break and bull flag to confirm more upside to come before entering the buy
3) 1st targeting the 50fib, 50fib level will change if Z wave not complete
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 setup.
If you have any questions about my analysis, leave a comment and If you have a different or similar idea share your idea and lets discuss it.
W1 we have WXY up an we possibly could be in the start of the X before we get Z up
H1 we didn't get the TL break and flag so we still don't have confirmation wave Z down is over. You can scalp the shorts on bear flags but get in and get out as we are getting bullish divergence. What I would like to see is H1 TL break and bull flag to confirm more upside and take the buy targeting the 50fib level then looking for the larger C down. I need the larger correction before we will get the next larger impulse down