Bears losing control, MACD final bearish moves, Stoch RSI pointing up, if the bulls push it out of this green wedge we pump!
The top of this wave is currently extension from bottom till top wave (1), reached near 1.618. Wave (1) retraced to 0.618% then took off, to 1.618 in what appears to be 3 elliot waves. Since this is important intraday price, and indicators have been running off-limit, it's pretty safe to say we can see some pullback. This would be towards the yellow (4) of this intermediate wave, but can also bounce on 1.382 fib then run towards the target in blue upper zone (testing upper resistance line from ath).
My target is around 9750-10250
The 18th is also close of weekly candle, which is a doji, it pushed up good deal but probably closes a bit more down. Monday will then open a new weekly most likely in green. ;)
Our shorting area is 11400-12700, spread entries, target is around 9000, here we can decide if we want to close or if the market is still very bearish.
And understand that taking losses is okay too, if you are not in-sync with the market it's better to let it rest for a while. Observe, reflect, make a strategy (Plan A and B) and know where to take profit (most importantly)!
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