One can look for Going long on weekly reversal basis ,
its having a very big move ahead , it has just finished its A wave of corrective structure after completing 5 impulse wave up
B wave is usually an Explosive move so look for sharp reversal and expect the correction with in B wave also be very sharp in nature
Look to stay with this trend for completing...
One can wait for Brake of Friday and high and close on 1 Hour Green Candle ,
No need to buy on Brake as some time they brake and go back down
Going long on confirmation is Good for this short range move
This is the one instance where major Retail gets trapped thinking its start of New Trend ,
Some time even the Pro gets trapped , but for sure We Know what exactly its happening here
We call it as Running Expanding Flat where the internal structure looks like New leading Impulse but facts are far away form it
Its just an Elongated pull back before resuming the...
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...