Long
STRATBTC
Sometimes you see these more rounded wave formations before a rally and its usually to get above a 100 moving average. Can also be accompanied by a cup and handle at the end and then it takes off. Just a hunch it doesn't always work out but some other indicators can help and in this case a positive MacD. We'll see. There's a big one playing out in GOLD right now since the beginning of the year. Kind of looks like 5 fingers. So if we see a cup formation play out soon on the gold chart XAUUSD and a good handle it might be worth buying a few contracts.
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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.