The market has rallied hard on from the low established December 24th. I believe the market will continue to rise throughout the first half of 2019. However, markets do not usually rise in a straight linear fashion. Therefore we should expect a retracement or consolidation soon. Using Elliott Wave Theory, I believe we are near completion of the first wave up. If the price rises to early December highs, odds favor a short position with a tight stop loss. I will look to go long when a retracement is underway.
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.
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.