This appears to be a news driven minor swing down or pull back to form a potential higher low.
The impulse up is strong spike coming after a long enough sell-off for a reversal to at least the targets shown above in ABC correction UP.
So I am expecting a higher low on OPEN, followed by a rally into the close for the weekend or at least an M - shaped structure if not an N.
trading > I would BUY strong bullish reversal bars on hourlies in first half of session - and take profits at target indicated in red sell regions above. If does spike to lower low it would most likely be a false breakout so would scale-in below as 2nd entry ( on bullish reversal back into upper range only, then get out of 1st entry at break-even for a better fill....
The reversal is supported by bullish divergence on lows, and higher highs and higher lows on Gann swings for first time in quite a while.
The long term yellow moving average LINE is the fulcrim for swings so buy below, and sell above.
Trading RANGE behaviour so scalp by buying low in range, and selling above to take profit only. I would not sell in this market yet until much higher levels unless reversal swings indicate a clear lower lows and strong impulse down etc
The impulse up is strong spike coming after a long enough sell-off for a reversal to at least the targets shown above in ABC correction UP.
So I am expecting a higher low on OPEN, followed by a rally into the close for the weekend or at least an M - shaped structure if not an N.
trading > I would BUY strong bullish reversal bars on hourlies in first half of session - and take profits at target indicated in red sell regions above. If does spike to lower low it would most likely be a false breakout so would scale-in below as 2nd entry ( on bullish reversal back into upper range only, then get out of 1st entry at break-even for a better fill....
The reversal is supported by bullish divergence on lows, and higher highs and higher lows on Gann swings for first time in quite a while.
The long term yellow moving average LINE is the fulcrim for swings so buy below, and sell above.
Trading RANGE behaviour so scalp by buying low in range, and selling above to take profit only. I would not sell in this market yet until much higher levels unless reversal swings indicate a clear lower lows and strong impulse down etc