After checking up on structure progress, we are about at the beginning of C Wave of Zig Zag ABC.
So far price is respecting 38.2 Fib Retrace Zone which gives me a hint there is more push to the bottom then most people think, these zones have not been contested as much to convince me to go long and buy in just yet.
M30 stochastics is still following so well with a Triangle Pattern in this C wave, but the question is what does the other time frames say at the moment.
Both H2 and H4 has a Bullish Convergence at the moment which we have to keep an eye for while this is in development, because I want to know what the oscillators are doing towards the end of a correction to know if we will go bullish or not.
Until correction structure is near complete, I have no bias on direction except to keep in mind that down trend is still dominant at the moment, but at the same time watching for signs of another retrace up or reversal.
Happy Hunting.
So far price is respecting 38.2 Fib Retrace Zone which gives me a hint there is more push to the bottom then most people think, these zones have not been contested as much to convince me to go long and buy in just yet.
M30 stochastics is still following so well with a Triangle Pattern in this C wave, but the question is what does the other time frames say at the moment.
Both H2 and H4 has a Bullish Convergence at the moment which we have to keep an eye for while this is in development, because I want to know what the oscillators are doing towards the end of a correction to know if we will go bullish or not.
Until correction structure is near complete, I have no bias on direction except to keep in mind that down trend is still dominant at the moment, but at the same time watching for signs of another retrace up or reversal.
Happy Hunting.