Market just finished complete Elliot wave 1-5 with an ABC correction, we are back at the buy zone, which market created with an institutional candle back when in it's beginning.
Aroon: Orange line crossed the blue one in the daily time frame which already shows that we are heading bullish direction.
MACD: Shows gain in the Bullish momentum we need to wait for it to cross upwards with a signal line on a daily timeframe.
Bollinger bands: We already bounced from the bottom Bollinger band which indicates we are heading bullish.
We should retrace all the way back to 50% fib zone, but we have a strong resistance just below it, taking that resistance as our target is a lot safer.
Entry 37
Invalidation 30.59
Target 50.21
Ratio 1:4
Aroon: Orange line crossed the blue one in the daily time frame which already shows that we are heading bullish direction.
MACD: Shows gain in the Bullish momentum we need to wait for it to cross upwards with a signal line on a daily timeframe.
Bollinger bands: We already bounced from the bottom Bollinger band which indicates we are heading bullish.
We should retrace all the way back to 50% fib zone, but we have a strong resistance just below it, taking that resistance as our target is a lot safer.
Entry 37
Invalidation 30.59
Target 50.21
Ratio 1:4
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