I am going into April Bullish. I believe this two-legged pullback is over on the Daily.
The ATR on the Daily has been a valuable tool to pick the lows. Every time ATR spikes and falls, that is the low.
I will be looking for price to slow down and layer into 41,580, form a higher low and start the bullish march back up.
The Monthly Chart
The Weekly Chart
The ATR on the Daily has been a valuable tool to pick the lows. Every time ATR spikes and falls, that is the low.
I will be looking for price to slow down and layer into 41,580, form a higher low and start the bullish march back up.
The Monthly Chart
The Weekly Chart
Note
Less than an 90 minutes left for the close of the first quarter bar. The second quarter bar, I am looking for bullish setups and this pullback to end.A higher low has formed and all the shorts selling down low are about to get caught.
Don't pay attention to the wicks on the 3 month chart, just the bodies. Notice that they are slowing pulling back into the July 2024 quarterly bar. Once the high of the current quarter's bar is taken, at 43,275, then it should break the consolidation and close above, in the 45,000's. An average quarterly bar is around 3500 ticks.
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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.