What I see - Long

There are people calling this short - I'm still long
Of course it depends on what timescale you are trading but the big move is long and that's what I'm interested in.

Analysis - Price has broken the previous down trend 240/Daily
We had a long impulse followed by a correction which we are still in.
As you know corrections morph as they develop which is why we wait for the completion and breakout before opening a trade.

This currently looks like a Zig Zag ABC = IF (note if) price breaks out of this correction we wait for confirmation (i.e. smaller degree correction) then we enter a long trade.

Anything else invalidates the trade. - there is no trade at the moment

This is not investment advice - just my view of the chart for educational and discussion purposes

Hope this helps
Steve

Kommentera:

As predicted price has broken out long. Wait for a consolidation - to confirm it's not going to retrace - then you should have a good buy set up

Kommentera:

Looks like this is finally on it's way north