Hey-hey
I want to point out a small indication which happened end of December and which is currently on the market. The candles on the have marked as green arrows below the candle.
The first one has happened 27. & 28. December and the second one has happened on 13. & 14. January.
Those marked candles are almost identical having only the size difference. Both have a fakeout which happened on the strong area and after that, the price makes a retest, moves sideways and here comes the interesting part of that. If this plays itself through the end equally, then we could see a movement upwards on the next days.
The current platform has worked nicely as a strong at $3,575 and now we have a new and confirmed counter . The counter is a very good trade indication IF it breaks. Currently, the major trend is down and if the counter (major trend is down, a small counter-trend is upwards) break then it would be a good sell signal, this scenario is just in case. If the counter breaks then we have also other price action criteria broken as:
– strong area $3,575, below it would be
– recently nicely worked $3,500 , if it breaks it would be another confirmation and the sell trade would be triggered after those criteria have collapsed.
Ok, talking about counter we ended up on the sell setup, but keep in mind!!
So, back into the current which will play out our nicely:
– We have a strong $3,575
– We have the major counter AND the strong area crossing point below the current price which makes this area much stronger
– In this area, we have also the FIB retracement level 62% which will guide us to the wave 3. if we start to count those waves from the bottom.
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Thank You very much!
CHEERS!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Published at Sat, 19 Jan 2019 10:04:14 +0000
