READ THE MARKET ON PRICE ACTION, WAVE ANALYSIS & CHART PATTERN

2021년 4월 29일

Price showing positive momentum to the upside as we can see selling momentum slowing down and buyer starts making a move. As for now, there's no Lower Low created to break below Buyer's Territory. Recently, price keep squeezing and we are still in indecisive phase where 50/50 chances price might go up or vice versa. Personally from my perspective, price possible to jump to the upside as we see strong bullish candle on 21st April which indicates buyer reaction. The Bear struggling to push The Bull that's why price starting to consolidate. Besides of price action story, Elliot Wave (EW) can be one of the tools to forecast the price movement. EW completing Wave C, in the making of Wave D before price reject once again at support to complete Wave E. Based on rule of thumb EW, after completing Wave E, the percentage for price to break the squeeze pattern is higher. For this expectation of bullish momentum, price might go to the upside and if we trade based on pattern also, you might see it is a possible Bullish Flag pattern. Keep monitor the price and trade based on your personality. Only you can decide whether you are Price Action Trader? Elliot Wave Trader? Or Chart Pattern Trader?