The move from 12.5 K to 9.8 k was a zigzag correction. The current move up might not be bullish but in fact a B wave in form of a another zigzag. Possible reversal at around 12.4 K. If it is a B-wave, we should see a 5 wave move down to finish a flat correction on larger timeframe. Target for the c wave down will then be at least 9.8K.
Sure the move up could be bullish in which case 12.5 breaks. We will know if target for the B-wave breaks. For the moment there are bearish divergence on 6 h timeframe suggesting that we are in fact in a bearish b-wave
Enjoy and happy trading.
Sure the move up could be bullish in which case 12.5 breaks. We will know if target for the B-wave breaks. For the moment there are bearish divergence on 6 h timeframe suggesting that we are in fact in a bearish b-wave
Enjoy and happy trading.
Note
No bearish divergence on 6 H any longer. It supports the bullish scenario 
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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.