Market giving indication we are/will be trending relatively strongly as the bulls are taking over at the moment and controlling the market with their dominance.
Keep in mind elliot waves not projected targets. The market can take it as high as it wants or do as it pleases.
Continuation of the switch from a short setup to long setup in the related idea link.
Keep in mind elliot waves not projected targets. The market can take it as high as it wants or do as it pleases.
Continuation of the switch from a short setup to long setup in the related idea link.
코멘트:
BUT, still wary of the 30min candle and how it closes. If we will see a failed breakout or a confirmed breakout.
코멘트:
A few moments ago, showing the past market condition.
코멘트:
Looking for this 15 candle to close relatively bullish.
코멘트:
Nice close, looking for more follow through.
코멘트:
5 min. Possible failed breakout or bulls jump in to take this further up.
코멘트:
Remember always to wait for the candles to close.
코멘트:
Break of these mini trendline and probably a failed breakout.
코멘트:
switched in favour of failed breakout and short for the time being. Unless price tells me otherwise.
코멘트:
If price holds and then continues up we could see it as an abc correction.
코멘트:
But if price holds and then continues up we may see an ABC correction
코멘트:
closed bearish.
www.tradingview.com/x/52tDu4ff/
www.tradingview.com/x/52tDu4ff/
코멘트:
코멘트:
Still can be an abc if this bar closes strongly bullish.
But be wary of the possible reversal which could occur. Otherwise it will breakout and make new highs. Lets see how it turns out.
But be wary of the possible reversal which could occur. Otherwise it will breakout and make new highs. Lets see how it turns out.
코멘트:
closed bullish lets see if price reverses up here or continues up.
코멘트:
15 min view:
코멘트:
testing the other side of the mini trendline. Looking for the bounce up for up confirmations or a test of that wick area for possible reversal.
코멘트:
Good sell if this next 5 minute candle closes bearish.
코멘트:
Looking bearish so far. Looks like a reversal and failed breakout.
코멘트:
wait for futher confirmation and candle close
코멘트:
Strong Bull. Probable that we're going up.
코멘트:
Be wary of 15 min. COuld still reverse on us.
코멘트:
코멘트:
15 min turned slightly bullish. Want to see what the next 15 minute candle has in store for us.
코멘트:
Breaking below. Good reverse if closes strongly bearish.
코멘트:
코멘트:
if it does and there's follow through looking out for possible long moves off the two upward trendlines.
코멘트:
Bearish close.
코멘트:
Rejection off the trendline. If it continues going, confirms this uptrend.
코멘트:
This highlight area looks very corrective. ABC, 3rd tap off the trendline, strong reaction to the upside. Trend resumption.
코멘트:
Breaking out. Trending market.
코멘트:
We have a potential for this drop. When it reaches this trendline, it will be a good position to buy.
코멘트:
Possible we could have this channel going.
코멘트:
Possible reversal zone or a continuation to the top of either channel.
코멘트:
Trending and corrective phases WITHIN this uptrend.
Making higher lows and higher highs.
Will it continue uptrending and break out above previous high?? Will it continue along this channel ?
Will it become a wedge?
Lines drawn up and will adjust to what the market shows as we continue along this path.
I want to see some larger uptrending/impulsive moves..
Making higher lows and higher highs.
Will it continue uptrending and break out above previous high?? Will it continue along this channel ?
Will it become a wedge?
Lines drawn up and will adjust to what the market shows as we continue along this path.
I want to see some larger uptrending/impulsive moves..
코멘트:
We may be experiencing a small pullback down to the lower channel line.
코멘트:
I've changed it to a continuation of the corrective phase (most likely). Especially at the market close where there may be some closing of long positions.
코멘트:
***Keep in mind:
Channels usually turn into trading ranges. And since Christmas is almost upon us, trading volume and activity is decreased as a lot of people are on their holidays.
Even if the market bounces up off the channel line, price may or may not use the previous high as a resistance level to continue in a sideways market/trading range.
Channels usually turn into trading ranges. And since Christmas is almost upon us, trading volume and activity is decreased as a lot of people are on their holidays.
Even if the market bounces up off the channel line, price may or may not use the previous high as a resistance level to continue in a sideways market/trading range.
코멘트:
Trading range broke out and also broke above the Higher Time Frame's previous high. Confirming the uptrend even more.
