2h chart and breaking resistant line after creating a Triple Bottom.
In the next 5 days following with BTC recovery, Altcoins might get a chance to initiate their bull run.
CELR has already created the path!
Most likely the trend is going above the broken resistant line, but if it goes back under, the hope gets faded.
There is a .50 fib Bearish Bat Pattern on the 60min time frame. It completes at 108.93, I'm putting my stop just above the swing high around 109.20. My target is going to be 108.13, it's the .618 retrace of the entry. There is also a .382 AB leg on the 120min. Now depending if you trade only .50 fib bats, this may not fit in your plan. Even if it doesn't this is...
Forecast for the both sides of chart.
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The long-term bearish movement is having its moment of correction. An ABC appears to our eyes and clever traders are already going short. MACD indicator shows a divergence and hints an exhaustion of the correctional wave may be around the corner.
InsideMarket subscribers shorted AUDUSD since $0.73 and already took some profits. The runner (special lot for trendy...
If price plays along these structures there will be a good opportunity - either to long or short position - ahead.
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Good evening, index traders.
SPX500 sets up nicely for short term trades to any direction. For medium term trades, short position for a trend continuation appears to be more likely. Long position only if price action allows a major consolidation.
Please, share a "Thumb up" if you like this chart.
And happy trading!
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