https://www.tradingview.com/chart/WkZbLswt/So just a friendly reminder that we are still in a bear market so be extremely careful trading against the trend! I closed my long position a little early to manage risk.
This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money.
TSV showing signs of weakness and bearish divergence
MFI has went over sold and in the past this marked a pivot point to lower lows
Let me be clear i can't predict the market all i can do is prepare for it.
The area we are in a happens to be a strong resistance are, we also had a very strong run up without any pullbacks which concerns me. I can't say forsure if we will see new lows but at the very least a good pullback to previous support which is $19.50 area
Elliot wave calls for another wave down but elliot is not always perfect you have to adapt to the chart and find where u are. We Could have completed the wave 5 which means we could see high highs, to possibly the 50% or 61 fib levels, but for now i am keeping the wave 4 narrative
Happy trading and god bless
I will also share how i came up with the elliot wave narrative
https://www.tradingview.com/chart/WkZbLswt/https://www.tradingview.com/chart/WkZbLswt/
This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money.
TSV showing signs of weakness and bearish divergence
MFI has went over sold and in the past this marked a pivot point to lower lows
Let me be clear i can't predict the market all i can do is prepare for it.
The area we are in a happens to be a strong resistance are, we also had a very strong run up without any pullbacks which concerns me. I can't say forsure if we will see new lows but at the very least a good pullback to previous support which is $19.50 area
Elliot wave calls for another wave down but elliot is not always perfect you have to adapt to the chart and find where u are. We Could have completed the wave 5 which means we could see high highs, to possibly the 50% or 61 fib levels, but for now i am keeping the wave 4 narrative
Happy trading and god bless
I will also share how i came up with the elliot wave narrative
https://www.tradingview.com/chart/WkZbLswt/https://www.tradingview.com/chart/WkZbLswt/
Заметка
after market getting crushedЗаметка
Fed is still hawkish
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.