Here we have a High Wave Candle, Nested between the 10 EMA on top and the 50 EMA below. One strategy is to draw a parallel channel around the High Wave Candle, and be mindful of breakouts, the direction will hypothetically determine if bullish or bearish, (with attention given to lower timeframes). Another theory is that we may be in the beginning of Wave 5 of the Elliot Wave theory and to use the EMAs (purple 50 EMA and 10 EMA blue) to carefully invest in over time.
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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.