What I see:
Bullish sentiment
- Price respecting Daily PP
- Price Respecting 50 SMA
- Price respecting Bullish TL
- Close above top of Daily Inside Bar range
- Price above 100 SMA
- Price above 200 SMA
- Daily Bullish Engulfing Candle
- Broken recent higher high
- False breakout of rising wedge
Bearish sentiment
- Price failed to stay above previous Weekly High
- Long term trade is bearish and could simply be in a correction phase
- Breakout of rising wedge
- Often if all signs are pointing up, it's a dirty trap that gets me every time :).
Bullish sentiment
- Price respecting Daily PP
- Price Respecting 50 SMA
- Price respecting Bullish TL
- Close above top of Daily Inside Bar range
- Price above 100 SMA
- Price above 200 SMA
- Daily Bullish Engulfing Candle
- Broken recent higher high
- False breakout of rising wedge
Bearish sentiment
- Price failed to stay above previous Weekly High
- Long term trade is bearish and could simply be in a correction phase
- Breakout of rising wedge
- Often if all signs are pointing up, it's a dirty trap that gets me every time :).
