Bullish or bearish? Bullish getting more power!So I can see here a few things:
1. Bulls getting more buying power
2. Bears volume failing to take over
3. E50 + ma50 golden crossed - usually on small time frame it means bullish for short term
4. we entered the bearish cloud
So what are my conclusions?
- If we break above e50 and close above it, we will have enough power to break the cloud, with buying power confirmation we should hold above...
- If we break below ma50 and close below it, we will have enough power to break below the cloud which will mean a very bearish momentum as the bulls failed to create bullish pattern and exchusted their energy...
- I would usually go bearish here as too many bigger scale signs for bearish, but until we won't close the weekly below e21, and won't create bullish pattern (Higher lows higher highs trend line) with confirmed buying power I can't be 100% sure that we have market reversal... thus as we are rising in small TF bullish momentum, this time I will go bullish....
- SLs should be below/above the 1h cloud!...
