You guys know that I’m with the bulls for some time (more than a month now), and I keep warning, every day – It’s a bull trend. We should be very careful and don’t try to predict the next top, in my experience this is useless (most of the times I admit). Now, if we look at the hourly chart, the price is doing a pullback to the 21 and it will seek its next support at the pink line.
If you switch to the , you’ll see a Shooting Star:
Here you see a closed gap and a . A pullback to the fib retracement or the 21 would be absolutely normal. And until it’s a bull trend, I’m with the bulls. Also, if you are still reading this remember to support this idea and follow me to keep updated about our trades and analyses! You wouldn't still be here if you wasn't finding this analysis interesting!
We avoided three bear traps recently using the hourly chart. In all three occasions the chart was pretty in the daily basis, but it was just another pullback at the hourly chart. I wonder if this is going to happen again.
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