Bulls defended the weekly low and made a convincing breakout yesterday. This is a powerful statement, although buyers have not yet proven their control. To do that, they must first establish a weekly higher low, which is likely to happen next week (of course, we need to monitor how things develop). This presents a great opportunity for a long play, but buyers should wait for a pullback and scout for an hourly higher low. Ideally, this should occur near the previous Volume Area High (VAH). An example of the trade is shown on the chart.
You can read full analysis of the market below
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
You can read full analysis of the market below
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Order cancelled
this is not a healthy retracement
Related publications
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.
Related publications
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.