- Significant upper shadow - 5ema not piercing through body of break-out bar - Bearish market + Broke-out under extremely high volume + Bullish Trend Intensity
It's always optimal when whatever it is that we're interested in trading to be setting up on multiple time frames. Here, PAM is setting in in a 4wks tight pattern on the weekly chart, and in an ascending triangle on the daily chart. A quick look at the volume bars shows us that PAM is presently being accumulated. This is further confirmed when we dig deeper...
EMA200 has proved to be an excellent support for the last 2 years.
EMA200 has proved to be a strong support in the last two years.
Two scenarios: Fifth wave has already developed, it failed to reach its target of 12.41 and is now going to retrace the whole movement (first target 5 usd area).. or the fifth way hasnt developed yet and we are just seeing wave 4 in progress, and wave 5 will hit its target at 12,50 & 13,79 for a last bang. For now, wave 4 holds 38% perfect retracement, so now its...