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ABC or 4th wave going for 5th?
Perfect mix signal for traders.
Bear case
- ABC done
- Bear flag with a perfect retest
- Impulse wave 1 downwards
Bull case
- Cloud bounce (first time in a very long time on 4hr with a cloud support)
- 4th wave done now going for a 5th wave
Tho it looks more bearish as compared to bullish from a TA perspective.
It seems like a perfect liquidity pool to trap bears.
Let's see how this plays out. Break and close above 220 resistance line would cause me to go bullish.
Bear case
- ABC done
- Bear flag with a perfect retest
- Impulse wave 1 downwards
Bull case
- Cloud bounce (first time in a very long time on 4hr with a cloud support)
- 4th wave done now going for a 5th wave
Tho it looks more bearish as compared to bullish from a TA perspective.
It seems like a perfect liquidity pool to trap bears.
Let's see how this plays out. Break and close above 220 resistance line would cause me to go bullish.
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