Bullish Context is unchanged
Updated
Bullish Context is unchanged.
1. Bear sells last Friday. However, it doesn't create LL. In the eyes of the Bulls, it creates Higher Low. The Bulls will try to establish a Bull Channel, possibly creating a two sided trading.
2. Look at the Context at the left and the 1265 area. The Bulls broke the Long Term Bearish Trend. The Bulls broke the Triangle again for Triangle Trading Range.
3. The Best Bear can do, is to sell it to the 1265 area. However, this is very tough. Because it doesn't have good profit margin to sell it down from 1278 to 1265. Most bear will wait until 1360 area, arguing it is a Trading Range.
1. Bear sells last Friday. However, it doesn't create LL. In the eyes of the Bulls, it creates Higher Low. The Bulls will try to establish a Bull Channel, possibly creating a two sided trading.
2. Look at the Context at the left and the 1265 area. The Bulls broke the Long Term Bearish Trend. The Bulls broke the Triangle again for Triangle Trading Range.
3. The Best Bear can do, is to sell it to the 1265 area. However, this is very tough. Because it doesn't have good profit margin to sell it down from 1278 to 1265. Most bear will wait until 1360 area, arguing it is a Trading Range.
Note
4. Today bar is important, because it is ii bar, indicating a Bullish Reversal.
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