Dear Reader,
On the hourly, we have a symmetrical Elliot Wave triangle atop a flag pole.
Will it break upwards? .. seems rather likely right now !
Am I still bearish? ... YES !!!
I believe a trap is being set as indicators are still showing bearish momentum and lower time resolutions confirm.
These are treacherous waters ... best stay out for the time being.
On the hourly, we have a symmetrical Elliot Wave triangle atop a flag pole.
Will it break upwards? .. seems rather likely right now !
Am I still bearish? ... YES !!!
I believe a trap is being set as indicators are still showing bearish momentum and lower time resolutions confirm.
These are treacherous waters ... best stay out for the time being.
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Looking at the 4 hourly chart, this pattern has manifested as a bull flag at the top of an ascending wedge. It's really weird stuff !!
