Price has now made a higher high and higher low post Wave C. Potensial early stage of new impulse wave (wave 1 og the 5th wave).
Price above all 3 EMAs (21/50/89).
89EMA>50EMA>21EMA (bearish alignment still intact (may shift bullish soon)) . indicates a potensial pullback for wave 2 of the bigger 5th wave. Bullish price action forming despite slow EMA alignment shift.
Watch for price to retest and hold the support zone, aligned with 21/50 EMA cluster.
Entry 1: Break and close above 3335 with strong momentum/volume
Entry 2: (Aggressive) Retest and bounce from support area.
S/L: Below 3210 (invalidates support structure)
Invalidation: 4H close below 3210 (breakdown from structure)
Targets:
TP1: 3345
TP2: 3395
TP3: 3495
Optional: trail stop under each higher low as structure builds or along 50EMA.
Price above all 3 EMAs (21/50/89).
89EMA>50EMA>21EMA (bearish alignment still intact (may shift bullish soon)) . indicates a potensial pullback for wave 2 of the bigger 5th wave. Bullish price action forming despite slow EMA alignment shift.
Watch for price to retest and hold the support zone, aligned with 21/50 EMA cluster.
Entry 1: Break and close above 3335 with strong momentum/volume
Entry 2: (Aggressive) Retest and bounce from support area.
S/L: Below 3210 (invalidates support structure)
Invalidation: 4H close below 3210 (breakdown from structure)
Targets:
TP1: 3345
TP2: 3395
TP3: 3495
Optional: trail stop under each higher low as structure builds or along 50EMA.
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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.
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.