Why?
I have been pro-actively trading this market over the last few weeks and months due to its strong bullish nature that it is showcasing. This market is trending very nicely and has delivered the perfect market conditions for me to go LONG. I know this because the impulsive waves are strong and are created with high volume. Rather than seeing typical corrections, we are seeing the formation of Re-Accumulations (stepping stones) to take price higher.
My Predictions
Price is showing no signs of wanting to slow down or stop. Therefore my bias remains Bullish. As of currently, we can see price has began to consolidate and enter the creation of another Re-Accumulation. Clearly with the red highlight, we can see price has liquidated the recent lows which is a sign that the institutions are getting involved. I am expecting price to continue bullish from here, to break the current market high and continue its next leg higher.
I will be looking to get involved once price reaches and breaks the 36.900 level
CONFLUENCES
- Sentiment is above 80% Bullish (MentFX Sentiment Source)
- Swing lows are being protected
- The effect being created by the cause is strong (Wyckoff Theory)
- Demand is clearly in control
- We are in a mark-up phase of the Wyckoff price cycles (The best phase to go long)
- Given the political uncertainty around the dollar right now, more investors are looking to pump money into alternative assets e.g Gold and Silver.
I have been pro-actively trading this market over the last few weeks and months due to its strong bullish nature that it is showcasing. This market is trending very nicely and has delivered the perfect market conditions for me to go LONG. I know this because the impulsive waves are strong and are created with high volume. Rather than seeing typical corrections, we are seeing the formation of Re-Accumulations (stepping stones) to take price higher.
My Predictions
Price is showing no signs of wanting to slow down or stop. Therefore my bias remains Bullish. As of currently, we can see price has began to consolidate and enter the creation of another Re-Accumulation. Clearly with the red highlight, we can see price has liquidated the recent lows which is a sign that the institutions are getting involved. I am expecting price to continue bullish from here, to break the current market high and continue its next leg higher.
I will be looking to get involved once price reaches and breaks the 36.900 level
CONFLUENCES
- Sentiment is above 80% Bullish (MentFX Sentiment Source)
- Swing lows are being protected
- The effect being created by the cause is strong (Wyckoff Theory)
- Demand is clearly in control
- We are in a mark-up phase of the Wyckoff price cycles (The best phase to go long)
- Given the political uncertainty around the dollar right now, more investors are looking to pump money into alternative assets e.g Gold and Silver.
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.
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.