The short covering saw the Outside Reversals last week. This is how these cycle lows forms.
- Inverse Head and Shoulders
- From an EW perspective: Leading diagonal (impulsive) for wave 1
Pullback at 50% Fib. for wave 2 and a nice reversal.
- Hurst cycle (10 weeks) Low at the Backtest = Buy
No cigar yet so let's see if the Bulls have the energy to break the neckline and the trend line from 2011 in the next weeks, months ...
Disclaimer: chart for educational purposes only and should not be considered as investment advice.
- Inverse Head and Shoulders
- From an EW perspective: Leading diagonal (impulsive) for wave 1
Pullback at 50% Fib. for wave 2 and a nice reversal.
- Hurst cycle (10 weeks) Low at the Backtest = Buy
No cigar yet so let's see if the Bulls have the energy to break the neckline and the trend line from 2011 in the next weeks, months ...
Disclaimer: chart for educational purposes only and should not be considered as investment advice.