We are seeing a lot of confusion in the market with the inability of the market to make a clear direction. However, on the short-term cycles, I believe we have a bullish opportunity that will take the price back up to $1800. Based on the cycle length, this trade could take about 7-12days to complete. For the day traders, bullish scalping trades are advisable. During this downturn, a lot of energy showed up and if the reversal is successful today, which I believe it will be, the price very well could reach $1800. You can have a very tight SL at this price zone that can easily yield a 1:10 risk:reward ratio.
The market moves in waves, and energy at the wave turning point tells us how far the price could be pushed. Best of luck.
Not trading advice. Trade at your own risk.
The market moves in waves, and energy at the wave turning point tells us how far the price could be pushed. Best of luck.
Not trading advice. Trade at your own risk.
Momentum is your friend. Think beyond the box, expand your reality and you will be ahead of the trend.