There are people calling this short - I'm still long
Of course it depends on what timescale you are trading but the big move is long and that's what I'm interested in.
Analysis - Price has broken the previous down trend 240/Daily
We had a long impulse followed by a correction which we are still in.
As you know corrections morph as they develop which is why we wait for the completion and breakout before opening a trade.
This currently looks like a Zig Zag ABC = IF (note if) price breaks out of this correction we wait for confirmation (i.e. smaller degree correction) then we enter a long trade.
Anything else invalidates the trade. - there is no trade at the moment
This is not investment advice - just my view of the chart for educational and discussion purposes
Hope this helps
Steve
Of course it depends on what timescale you are trading but the big move is long and that's what I'm interested in.
Analysis - Price has broken the previous down trend 240/Daily
We had a long impulse followed by a correction which we are still in.
As you know corrections morph as they develop which is why we wait for the completion and breakout before opening a trade.
This currently looks like a Zig Zag ABC = IF (note if) price breaks out of this correction we wait for confirmation (i.e. smaller degree correction) then we enter a long trade.
Anything else invalidates the trade. - there is no trade at the moment
This is not investment advice - just my view of the chart for educational and discussion purposes
Hope this helps
Steve
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As predicted price has broken out long. Wait for a consolidation - to confirm it's not going to retrace - then you should have a good buy set up
Bình luận:
Looks like this is finally on it's way north
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