Th3R4m0n1X

Th3R4m0n1X

So, bulls have manged to take control and make a stand, but it´s a long way to go back to a steady up-trend. Analysis: - Long-term down-trend resistance has been broken (good sign). - Falling wedge reversal pattern confirmed, so we can expect its target (11-12k approx.) at least. - As for medium-term, we need to step back to 2014 and see that a broken long-term...

Th3R4m0n1X

What I see: - Wave 1 and 2 clearly ended. - Wave 3 ended and 4 developing...but! i don´t know if we may expect some extensions... I think this is not the case. - Wave 4 still in development: a 5 wave structure passed indicating a zig zag correction. Targets: For B wave: 50% retracement at least, so 12k top For C wave: I think the 3k level is just fine, breaking...

Th3R4m0n1X

This is we can expect in this small time frame: - Firs ABC correction to local support, reaching 0.786 - 0.618 level. - Second impulse to test the falling wedge resistance. So the options are: 1 - This is an ABC correction that will be rejected at wedge resistance. 2 - This is an ABC correction but in a large time frame so we can expect one more impulse. 3 -...

Th3R4m0n1X

- AO indicator shows no divergence yet, so we may expect one more impulse to complete a local 5 wave cycle. - Stoch RSI showing overbought indicates a possible decline in demand. - There´s an strong support at 6200 level, so we may expect bounce there. So for short term i´m shorting and waiting to see what happen at 6200 level. If bounce happens and volume keeps...