If the market gains momentum, there is potential for a countertrend on GJ.
Trading back to a weekly fast-moving average with the added confluence of a 50% retracement of the larger move.
Higher-risk trading against the trend, however, the market may present a shorter-term, high-RR trade opportunity.
There are two options for this trade idea, depending on the degree of pullback.
Trade invalidation If the price grinds higher without momentum or it moves below wave C with a lower low.
Trading back to a weekly fast-moving average with the added confluence of a 50% retracement of the larger move.
Higher-risk trading against the trend, however, the market may present a shorter-term, high-RR trade opportunity.
There are two options for this trade idea, depending on the degree of pullback.
Trade invalidation If the price grinds higher without momentum or it moves below wave C with a lower low.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.