Initia · Higher Highs & Higher Lows, The Market GrowsI can see it moving. I can clearly see the end of a bearish move and trading conditions being 100% different to just a few months back.
I can see the difference between the down period and the sideways period. Initia is no longer going down, the bottom has become flat. I can see the change. Change implies something different will happen and this is the market going up. It is no longer down, it has been sideways and now looking to change. A major rise is upon us. This chart can be used as a short-term trade setup.
Here is another one, notice the low 2-August. We have a higher low compared 8-July and the action is already happening back above the 22-June low which was a main low. Some pairs produced a strong higher low two days ago and I mentioned that the possibility exists for lower prices before rising. Here you can see why lower prices is not the most likely scenario. The market already hit bottom and is recovering and the recent bottom was a higher low. For a lower low, we know this last low would have been pierced as support and then taken out. The fact that it wasn't even tested is a signal of strength.
We still have to wait, but market conditions are looking good and we experienced only a very small retrace. It is normal, the market will continue to rise but as it rises prices will continue to fluctuate. A retrace can last 3 days but it can also last 2-3 weeks. A correction can last 2-3 weeks but sometimes it can extend into several months.
What we need to know is that these fluctuations are temporary and for as long as the market is bullish, each time the drop stops we get a new wave of growth. Each wave will produce a higher high and in this way the market grows.
Namaste.
Long
