Is It End Road for the BEARS...?
Updated
Hey Guys!
On the larger timeframe of the Monthly, Weekly and Daily, we see this market is bearish.
Over the past few days leading into weeks, we have seen the market gravitate to the north to reach higher prices. We are tempted to believe that all of that bullishness was to drive the market into our expected bullish reversal zone.
Market price is currently inside our Daily zone. We are looking to see reversals.
Where that happens, we will look to trade bearish.
In the unlikely event that the market breaks our zone and clears our protected high, we will deem come to the conclusion that the bearish of the daily chart is over, and we will look to trade Bullish on the Daily.
Until then, we will hold on to our bearish perspective.
On the larger timeframe of the Monthly, Weekly and Daily, we see this market is bearish.
Over the past few days leading into weeks, we have seen the market gravitate to the north to reach higher prices. We are tempted to believe that all of that bullishness was to drive the market into our expected bullish reversal zone.
Market price is currently inside our Daily zone. We are looking to see reversals.
Where that happens, we will look to trade bearish.
In the unlikely event that the market breaks our zone and clears our protected high, we will deem come to the conclusion that the bearish of the daily chart is over, and we will look to trade Bullish on the Daily.
Until then, we will hold on to our bearish perspective.
Comment
Hey GuysYesterday we witnessed market take the last leap up to get into our marked out reversal zone of the daily chart.
Today, we see the market showing signs of a reversal. The reversal is bearish. We are not forgetting that the 4 and 1 hour tinmeframes are bullish, and price may be coming to test our 4 hour zone before continuing bullish.
Currently, we are torn between two very likely perspectives, both of which are as like to play out.
We anticipated a bullish reversal from the current 4 hour zone to drive prices higher towards 4 hour liquidity target above.
In the alternative, we see a possibility of the market breaching our 4 hour zone and heading for lower prices in the direction of the Daily chart. Where this happens, we will be ready to draw up a bearish trade plan. But until then, the lower tie frame of the 4 hour is bearish and so are we
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