This might be part of news play or is it?
So, there's 2 scenarios that this can play out.
1. Market is going to rally to 4450 area, and then drop the 200 points
*White 12345 = Daily impulse.
Yellow 12345 + Green ABC = 4H complete cycle. Supply & Demand Zones as reversal areas.
OR
2) Market continues to rally up past 4500, signaling trend continuation
**Red ABC = Daily retracement
Blue 12345 = Wave 1 on Daily/ Impulse wave on 4H
Crucial juncture is how the market reacts when it reaches 4450.
If it goes side ways, then scenario 2 will most likely play out.
If there's a selloff, then scenario 1.
As for the rest of today, let's continue to buy :)
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
So, there's 2 scenarios that this can play out.
1. Market is going to rally to 4450 area, and then drop the 200 points
*White 12345 = Daily impulse.
Yellow 12345 + Green ABC = 4H complete cycle. Supply & Demand Zones as reversal areas.
OR
2) Market continues to rally up past 4500, signaling trend continuation
**Red ABC = Daily retracement
Blue 12345 = Wave 1 on Daily/ Impulse wave on 4H
Crucial juncture is how the market reacts when it reaches 4450.
If it goes side ways, then scenario 2 will most likely play out.
If there's a selloff, then scenario 1.
As for the rest of today, let's continue to buy :)
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Comment:
We should be seeing strong buying coming from the Europeans and Americans today.
If so, then we will see a completion of Wave 1 on the Daily.
If so, then we will see a completion of Wave 1 on the Daily.
Looks like scenario 2 is playing out!