Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.
Good afternoon, traders.
Well yesterday I pointed out that the bulls had a clear break of trend and I suggested that if they kept this up unabated, a likely target would be a move to the 200-day SMA which the bulls sure delivered:
We have been considering 3 possible paths we may take (2 bearish and one bullish) and I have been open to all 3, but I am now leaning more to one over the others. So let’s dive in.
Ok, we’ll see how things go. I’m disappointed that we didn’t form an accumulation, but that may be an important clue for us here. More bearish price action here could have led to far more bullish price action later. Bullish price action here may lead to far more bearish price action later. That’s how I view it.