This in my own opinion is one of my strongest Monthly Outlooks so far. Let me explain
HTF - This chart can how a very strong fast Bullish push towards the Upside ALTHOUGH, HTF's do suggest Bearish movements. Sells in this market are currently proffered due to the Monthly time line being Bearish. On the weekly and the Daily we are waiting for price to fall a bit before continuing this bullish leg. Higher TF's suggest this pullback could be part of a correctional stage of Elliot's wave. Im looking for price to return into the 50% range on the Fib to fall into a discount stage before looking to buy. Due to recent Price action there isnt a huge amount of information. We have two possible buy locations marked out, we also have our OTE zone marked out that is between those two entry models.
Lower Timeframes here so far are pretty basic. I expect price in the lower timeframes to give us a bit more clarity further into the month when price returns into the HTF Imbalance which may give us a little bit of choppy price action. This may help us determine some entries without the guess work currently other than an OTE zone and two Demand zones.
I will keep this Outlook Update further into this trading month.
Goodluck to the traders that follow.
HTF - This chart can how a very strong fast Bullish push towards the Upside ALTHOUGH, HTF's do suggest Bearish movements. Sells in this market are currently proffered due to the Monthly time line being Bearish. On the weekly and the Daily we are waiting for price to fall a bit before continuing this bullish leg. Higher TF's suggest this pullback could be part of a correctional stage of Elliot's wave. Im looking for price to return into the 50% range on the Fib to fall into a discount stage before looking to buy. Due to recent Price action there isnt a huge amount of information. We have two possible buy locations marked out, we also have our OTE zone marked out that is between those two entry models.
Lower Timeframes here so far are pretty basic. I expect price in the lower timeframes to give us a bit more clarity further into the month when price returns into the HTF Imbalance which may give us a little bit of choppy price action. This may help us determine some entries without the guess work currently other than an OTE zone and two Demand zones.
I will keep this Outlook Update further into this trading month.
Goodluck to the traders that follow.
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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.