So we think we've finally bottomed on this market and are ready for the uptrend to continue... This market looks to have a short term opportunity if the idea proves true... Most of our trades are short term, but we've been long on this market...We've been covering this market for a while now and this is the perspective we are currently working with...
It's not always about the charts, but they do help significantly, and we think the chart is signaling the end of the sell off and possibly the start of a new market cycle... Compare the market to the Wall Street Cheat Sheet...
IMG Source : Google
We could be in the depression stage...
And let's take a closer look at this market to see what has been happening recently...
Above is pictured in 1 hour candles... Those green lines look like a descending wedge or bull flag pattern... If this idea of a bull flag proves true, traders can anticipate a breakout of the top green line followed by volume as a buy signal...
Allow us to address that this is not financial advice... It is recommended that you do your own due diligence, fundamental and technical analysis before purchasing any asset...
Have another perspective? Leave it in the comment section... The more perspectives we can see the market from the better off we are as traders...
Thanks for looking, good luck and happy trading!