In the lower timeframe, we are waiting for an ABC pullback to finish the wave ((iv)). From there, we can go long again. For the moment, there looks to be a complete structure to the upside which can be shorted (warning: against the main direction).
In the 1 hour, it looks like the DOW is close to finishing an impulse to the upside. If we see the fifth wave ending with divergence, traders can initiate a short (against the main direction). A safer way to trade is to wait for the wave ((ii)) pullback and go long from there.
In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
Although the NASDAQ looks bullish in the higher timeframe, we expect a pullback in the lower timeframe. In the 4 hours, we see 5 waves up and wave 5 is ending with divergence compared to wave 3. If the divergence is not erased, we would expect a pullback. We had another successful trade yesterday. Now we have to wait for more data.
Hello traders, This will be just a quick recap on some of the markets ahead of US Cpi next week. USD is still in a recovery mode, with room for more upside I think, especially if stocks will stay under pressure. Have a nice weekend everyone. GH
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hello trader , as we can see SBIN is in correction phase and it is forming flat correction . so we can predict that SBIN will give good down move in coming days . btw this is the first and second move of SBIN . 1st move 470 2nd move 415 -420