If this pattern plays out it can deliver a nice risk reward opportunity. But first a little retrace has to fuel the bull power for the short term profits of the shorts. lets give it another 2 weeks from here. By that time the Ichimoku Cloud as support level should align with the 38% retracement of the AD leg and give us a good position to add to a long. Always remember: buy on support, sell on resistance.
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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.