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We may be headed higher if resistance line is broken. I'll post additional screenshot of Momentum moving us lower before we go up again. Volume is not as high as we want to break the line just yet but we could just be catching our breath.
I'm staying on the sidelines on the long side until Resistance line is broken, but could be a decent shorting opportunity if we bounce off of resistance again.
We may be headed higher if resistance line is broken. I'll post additional screenshot of Momentum moving us lower before we go up again. Volume is not as high as we want to break the line just yet but we could just be catching our breath.
I'm staying on the sidelines on the long side until Resistance line is broken, but could be a decent shorting opportunity if we bounce off of resistance again.
Note
As you can see momentum has dropped off on the daily and looking to pull back.
Note
Keep your eyes peeled for the bounce or breaking of the light-blue resistance line ✔Note
Corrective ABC pattern was much shorter and ended up finding support in the smaller symmetric clusters.Starting a new wave up, will expect to meet resistance at previous downtrend line
Note
In today's session bounced off of a larger 0.5 Gann-Angle, might see pullback to top of purple clusters which is equal to 0.236 retracement ( $22 ) if Gann doesn't break, volume receding slightly.
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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.