Descrizione
â‹… Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
As per my last picture idea, highlighted in the chart, the bulls took over by breaking above the orange zone.
Now What?
For the bulls to take over from a medium-term perspective, we need a break above the last major high from H4 highlighted in green.
In this case, a movement till the 28k-30k resistance / supply zone would be expected.
Meanwhile are bullish, unless the bears manage to break below the last major low highlighted in blue.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
I disagree with you
Based on my analysis by the elliot wave theory, we are in correction wave.