US 30 ?Bear Flag forming Again? May be EW4 in downtrend- Danger!
Updated
JW if this 3-day rally is another fakeout, has earmarks of a bear flag rally, very hard to call a bottom yet, consolidating, fluctuating.
Trading at area where price has provoked bear reaction, the EW model suggests we might expect retest of lows, and possibly a lower low.
Filling the gap down from 249 was expected, top of the gap = pivot & resistance; breakout above this level would signal a move up.
Bulling up through 250 would invalidate the model as 4th wave shouldn't break above low from 1st wave.
This isn't investment advice, just an idea, trade at your own risk; GLTA!
Trading at area where price has provoked bear reaction, the EW model suggests we might expect retest of lows, and possibly a lower low.
Filling the gap down from 249 was expected, top of the gap = pivot & resistance; breakout above this level would signal a move up.
Bulling up through 250 would invalidate the model as 4th wave shouldn't break above low from 1st wave.
This isn't investment advice, just an idea, trade at your own risk; GLTA!
Trade active
Looks like a breakout lol. Who knew? See if we get confirmation...Trade active
Didn't get far lol. Notice topped at 26k at TL from 03 Oct + 08 Nov peaks. Might get a retrace up to ~24K before it rolls over and takes a big dive.
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