The bullish strength here is evident from candle spread, volume price BOTTOMS (July 19, 25, 31 Daily candles) With the July 25 candle showing the wick (wycoff 'spring')
Can't be taking shorts at the bottom that's for sure, but you also don't wanna be shorting every new all time high. Best route? Probably something that has more patience (expiry if options) and playing the long side
Weekly chart also shows strength, from the similarity to Jan2 and Jan8 Weekly candles, to the gap fill we just did.
The trend is your friend as they say.
Can't be taking shorts at the bottom that's for sure, but you also don't wanna be shorting every new all time high. Best route? Probably something that has more patience (expiry if options) and playing the long side
Weekly chart also shows strength, from the similarity to Jan2 and Jan8 Weekly candles, to the gap fill we just did.
The trend is your friend as they say.
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