As we can see on the chart overall trend is up. After finish of A-B-C Zig Zag correction price made another straight impulse move to the up side ( smaller fat green line ) and then correct itself. Now I am expecting another down move for completion of Expanded Flat Correction pattern which will be short opportunity. When/if pattern is completed I will be looking for long setup and continuation to the up side. Updates on lower time frame.
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Pull back possible. Divergence on 1 hour chart. Short opportunity.Note
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Always use lower time frame to see what is price doing. We can see on 5 minute time frame price break down leading diagonal which is indication of a down trend and short opportunity.Note
Gartley and RSI overbought conditions indicates down pressure.Note
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Price still in up trend. Two possible directions.Note
Price moving inside ascending channel with very strong divergence showing on RSI which indicates trend reversal. If price break to the up side look for long set up. Note
Agressive entry on 5 minute time frame. Good R/R ratio.Note
Price made strong down impulse. Now we should see correction pattern and continuation to down side.
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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.