Although I have been one of the biggest bears for the last few months (and still am in the long term) - I see a big bounce upcoming which will be driven with disbelief and scepticism. Other than exhausted indicators, which I have mentioned in my previous ideas, we are additionally on a strong trendline/support and the consolidation is only predicting big volatility. Another aspect that makes me bullish is my theory of Long Candles like Long Candles. Long candles tend to be corrected - specially on supports and resistances - sooner or later. Here we have 3 big H4 candles that haven't been corrected in any expected (by me) way and that only suggests tension accumulation. Too many aggressive drops in a short time.
Expecting a green strong candle soon.
Expecting a green strong candle soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.