watch for the baseline and pattern
price had very strong rally after finding it's bottom around daily 200MA (watch my last post).
right now I see no reason to break the 200 moving average downward. and everything seems
bullish to me at least until the rules on my chart won't break.
now we can say price will move into the wedge pattern forming unless one side break out.
however price shouldn't close below the baseline on my chart around 21050$.... why?
because I think considering the E. waves the (A) and (B) wave of ABC Elliott waves have completed
and now we could expect for the (C) wave to run.
so the strategy based on what I believe is clear. as always my judgment is my baseline level.
above the baseline on the chart is bullish. even if the price breaks down the pattern.
Enjoy the market
right now I see no reason to break the 200 moving average downward. and everything seems
bullish to me at least until the rules on my chart won't break.
now we can say price will move into the wedge pattern forming unless one side break out.
however price shouldn't close below the baseline on my chart around 21050$.... why?
because I think considering the E. waves the (A) and (B) wave of ABC Elliott waves have completed
and now we could expect for the (C) wave to run.
so the strategy based on what I believe is clear. as always my judgment is my baseline level.
above the baseline on the chart is bullish. even if the price breaks down the pattern.
Enjoy the market
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