Textbook mixed with a little thought process then check against 10 different indicators all pointing me in the same direction... either im right and equivalent to an indicator or im wrong and im equivalent to an indicator...
Bear Bat setup and Pt D completes at previous support, turns resistance. I would need to see additional supporting reason like double top or falling wedge or at lease a pin bar at Pt D completion.
Reason being Pt C completion is a double top completion.
The market is still on its bearish run on the Daily Chart, but I am more inclined to look out for a counter-trend move for a buying opportunity.
The least I'm looking for is a double bottom with RSI divergence.
Like to have a more consistent update on the outlook like this, just subscribe to our trade ideas and I will see you there real soon.
It's at the Buy Zone! Is either you can go for an aggressive long right after the 12pm(+8GMT) candle close above the previous candle high or waiting for a double bottom which may or may not form to engage this long position. Either way is alright and is based on your trading strategy and personality as a trader yourself.
It's Friday!! Yeah! Wishing all traders...
