Dann_35CT

Dann_35CT

I believe we've come to an end of the bear season and now chances of going long according to my count (elliot wave)... we've seen the first wave push to the upside and now market is correcting for its 3rd wave. A 3-3-5 flat correction is looking to form on the LTF, then we are set and ready for the 3rd wave move up

Dann_35CT

The monthly trendline has been broken and retested giving off a bullish signal after the NFP and sits right on top of a demand zone on the 4hr timeframe. Also, the correction on the first wave has been completed (reactionary wave 2) and the 3rd wave is inbound also giving off a "buy". Oh! And it also almost rehect a psychological level on the daily timeframe.

Dann_35CT

From the elliot wave pattern, the 5th wave is about complete, hoping it creates a bearish engulfing candle at the support now turned resistance. And according to the fib retracement, that resistance is at 0.5 - 0.618. So I expect the market to go short

Dann_35CT

So, I see an head and shoulder pattern forming on the daily timeframe, and in confluence with the trendline draw as well as the supply zone. Although, still in play, would wanna be patient to see how the market will play. But I believe it'll be bearish