If we look at our 4-hour, we can see that there is a possibility of seeing a TK cross occur within the next day or so.
For now, I would just keep an eye out and wait for it to occur. If it does, then I'd consider increasing my position, but that depends if the cross is sustained and if the greater market sentiment is ready for such a bounce. If not, I'd suppose the cross would be a fakeout and turn downwards.
With such strong upward momentum, it wouldn't be unreasonable to surmise that a correction to this force would soon take place within the following days.
But then again, all we can do is wait and see.
- LB
For now, I would just keep an eye out and wait for it to occur. If it does, then I'd consider increasing my position, but that depends if the cross is sustained and if the greater market sentiment is ready for such a bounce. If not, I'd suppose the cross would be a fakeout and turn downwards.
With such strong upward momentum, it wouldn't be unreasonable to surmise that a correction to this force would soon take place within the following days.
But then again, all we can do is wait and see.
- LB
