The big red bar from today put it back in the middle of a chop zone meaning it's going to be hard to assign an intraday bias to the day type until it gets out of this middle area.
The overall daily structure is the B point after a 5 wave elliot impulse. It seems reasonable that the c target could be the pitchfork median which would also be about at the prior 3 point.
This overall elliot wave is inside a much larger elliot cycle so I think a tag of the median line will send prices upward.
If it can open above 1530 in the next few days that would be reason to expect a bullish intraday bias. If below 1481 then a bearish bias.
If it sits in the middle then it will be a bit dangerous to trade and it's better to use tight stops and avoid shooting for the moon.
TD sequential is also at bullish 9 which means it's probably about to reset to 1. I've been testing TD lately and found that there may be a correlation between trend day types and higher TD counts, meaning it's better to wait for TD to get to about 3 or 5 or so before looking for trend continuations rather the trading on the reversal itself.
The overall daily structure is the B point after a 5 wave elliot impulse. It seems reasonable that the c target could be the pitchfork median which would also be about at the prior 3 point.
This overall elliot wave is inside a much larger elliot cycle so I think a tag of the median line will send prices upward.
If it can open above 1530 in the next few days that would be reason to expect a bullish intraday bias. If below 1481 then a bearish bias.
If it sits in the middle then it will be a bit dangerous to trade and it's better to use tight stops and avoid shooting for the moon.
TD sequential is also at bullish 9 which means it's probably about to reset to 1. I've been testing TD lately and found that there may be a correlation between trend day types and higher TD counts, meaning it's better to wait for TD to get to about 3 or 5 or so before looking for trend continuations rather the trading on the reversal itself.
Заметка
It did in fact chop pointlessly today, glad I did this chart so I knew to avoid it.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.